Investment Rating - The investment rating for the company is "Outperform" (Maintain) [4] Core Views - The company is expected to achieve a revenue of 377 million yuan in 2024, representing a year-on-year growth of 6.53%, and a net profit attributable to shareholders of 48 million yuan, reflecting a growth of 10.35% [4] - The consumer electronics market is gradually recovering, and the automotive electronics sector is experiencing rapid growth driven by increasing sales of new energy vehicles [4] - The earnings forecast for 2024-2026 has been slightly adjusted upwards, with expected net profits of 48 million, 64 million, and 80 million yuan respectively [4] Financial Summary - Revenue for 2024 is projected at 377 million yuan, with a year-on-year growth of 6.5% [7] - Net profit for 2024 is expected to be 48 million yuan, with a year-on-year increase of 10.4% [7] - The company's gross margin is expected to improve from 19.8% in 2024 to 20.5% in 2026 [7] - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.59 yuan, 0.80 yuan, and 0.99 yuan respectively [7] Market Outlook - The global EMS market is expected to exceed 584.69 billion USD in 2024 and surpass 1.42 trillion USD by 2037, with a compound annual growth rate of over 7.1% from 2025 to 2037 [5] - The demand for PCBA in consumer electronics, automotive electronics, and industrial control is anticipated to increase significantly due to rapid product updates and advancements in technology [5]
雅葆轩：北交所信息更新：汽车电子新订单注入业绩增长动力，2024年归母净利润同比增长10%-20250306