Investment Rating - The report maintains a "Buy" investment rating for the company, indicating a positive outlook for future returns [6]. Core Insights - The company has demonstrated strong performance with a reported revenue of 405 million yuan for 2024, reflecting a year-on-year growth of 27.57%. The net profit attributable to shareholders reached 222 million yuan, up 34.33% year-on-year, and the net profit after deducting non-recurring gains and losses was 212 million yuan, marking a 48.21% increase [4][6]. - A significant contract worth 270 million yuan was signed with a client for the sale of gyroscope products, which is the largest sales order since the company went public. This indicates a clear trend of increasing demand from downstream customers [4][6]. - The company is focusing on developing new products, including a six-axis IMU and high-performance chips, to meet diverse downstream demands in sectors such as autonomous driving and industrial robotics [5][6]. Financial Performance Summary - For 2024, the company achieved a revenue of 405 million yuan, with a projected revenue growth of 50.4% in 2025, reaching 608 million yuan. The net profit is expected to grow to 315 million yuan in 2025, representing a 41.9% increase [9]. - The gross margin is projected to remain high, around 85% for 2024, with a slight decline expected in subsequent years [9]. - The earnings per share (EPS) for 2024 is reported at 0.56 yuan, with forecasts of 0.79 yuan in 2025 and 1.19 yuan in 2026 [9][11].
芯动联科（688582）：再获大额订单，公司产品下游放量趋势凸显