Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company is expected to benefit from the upgrade of automotive intelligent driving and the accelerated penetration of automatic parking, with significant mass delivery of its AKII product [5][6] - Revenue for 2024 is projected to be 617 million yuan, representing a year-on-year growth of 32.13%, while net profit attributable to the parent company is expected to be 88 million yuan, up 13.87% [5] - The company has adjusted its profit forecasts for 2025-2026 due to the impact of declining downstream customer demand, with new profit estimates for 2027 introduced [5] Financial Summary - Revenue and profit projections for the company are as follows: - 2024 Revenue: 617 million yuan (+32.1% YoY) - 2025 Revenue: 744 million yuan (+20.6% YoY) - 2026 Revenue: 920 million yuan (+23.6% YoY) - 2027 Revenue: 1,116 million yuan (+21.3% YoY) - 2024 Net Profit: 88 million yuan (+13.9% YoY) - 2025 Net Profit: 104 million yuan (+18.8% YoY) - 2026 Net Profit: 128 million yuan (+22.9% YoY) - 2027 Net Profit: 142 million yuan (+10.6% YoY) [8][10] Market Trends - The automatic parking system's penetration in the Chinese market is increasing, with 4.8975 million units delivered in 2024, a growth of 39.74% YoY, and the installation rate is expected to reach around 25% by 2028 [6] - The company is expanding its applications in the robotics sensor market, with the industrial robot market in China projected to grow to 72.642 billion yuan in 2024 [7] Product Development - The company has successfully delivered its new generation AKII ultrasonic sensors, which meet the requirements for intelligent driving system upgrades and integrated parking technology [6] - New production capacities for high-performance ultrasonic sensors and multi-layer tactile feedback micro-actuators are expected to be operational by the end of 2025 and 2026, respectively [7]
奥迪威：北交所信息更新：汽车智能驾驶升级+自动泊车渗透加速，公司AKII实现大批量交付-20250410