FORYOU(002906) 东方证券·2025-04-26 13:02Investment Rating - The report maintains a "Buy" rating for the company with a target price of 44.66 CNY, based on a projected average PE of 29 times for comparable companies in 2025 [2][5]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 8.11 billion CNY, 10.12 billion CNY, and 12.53 billion CNY for the years 2025, 2026, and 2027 respectively, indicating a strong growth trajectory [2]. - The automotive electronics and precision die-casting businesses are continuously securing new projects, reflecting robust demand and expansion in these sectors [1][9]. - The company has made significant advancements in automotive electronics, launching various domain control products based on Qualcomm chip solutions, and is actively participating in customer project bids [9]. Financial Performance Summary - The company's revenue is projected to grow from 7,137 million CNY in 2023 to 17,273 million CNY by 2027, with a compound annual growth rate (CAGR) of 26.6% to 17.5% over the forecast period [4][10]. - The gross profit margin is expected to stabilize around 20.8% to 21.6% from 2025 to 2027, while the net profit margin is projected to improve from 6.5% in 2025 to 7.3% in 2027 [4][11]. - The return on equity (ROE) is anticipated to increase from 9.1% in 2023 to 15.0% by 2027, indicating enhanced profitability and efficient use of equity [4][11].