Sharetronic(300857) 太平洋证券·2025-04-08 12:14Investment Rating - The report maintains a "Buy" rating for the company [1][7] Core Views - The company has shown continuous high growth in performance, with a focus on expanding its computing power services and robotics sector [1][6] - In 2024, the company achieved a revenue of 7.41 billion yuan, representing a year-on-year growth of 59.08%, and a net profit of 692 million yuan, up 140.80% year-on-year [4][8] - The company is actively expanding its computing power services and has obtained NVIDIA Cloud Partner certification, enhancing its capabilities in AI model services and cloud computing [6] Financial Performance - The company reported a significant increase in revenue across various business segments, with intelligent IoT business revenue reaching 2.26 billion yuan, up 60.82% year-on-year [5] - The overall gross margin improved by 3.81 percentage points to 17.36% in 2024, driven by high-margin businesses [5][10] - The company forecasts revenues of 10.95 billion yuan, 14.52 billion yuan, and 18.55 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 1.09 billion yuan, 1.55 billion yuan, and 2.06 billion yuan [7][8] Business Expansion - The company is strategically focusing on the robotics sector, integrating its subsidiary to enhance its capabilities in developing products like robotic dogs and humanoid robots [6] - Collaborations with major enterprises in cloud computing and AI applications are underway, indicating a robust growth trajectory in these areas [6][8]