Sino Wealth(300327) 中邮证券·2025-04-24 03:23Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company reported a revenue of 1.343 billion yuan in 2024, representing a year-on-year growth of 3.32%, while the net profit attributable to shareholders decreased by 28.01% to 134 million yuan [5] - The market is beginning to recover due to consumer stimulus policies, low initial inventory from clients, and the resumption of the export market, although product prices are declining due to intense competition [6] - The company is increasing its R&D investment, which reached 300 million yuan in 2024, accounting for 22.35% of its revenue, focusing on smart home appliance chips, variable frequency motor control, battery management chips, OLED display driver chips, and automotive electronics chips [7] - The company is expected to achieve revenues of 1.55 billion, 1.82 billion, and 2.00 billion yuan in 2025, 2026, and 2027 respectively, with net profits of 150 million, 204 million, and 250 million yuan [8] Company Overview - The latest closing price of the company's stock is 23.64 yuan, with a total market capitalization of 8.1 billion yuan [3] - The company has a total share capital of 341 million shares, with a debt-to-asset ratio of 21.1% and a price-to-earnings ratio of 60.24 [3]