TZTEK(688003) 开源证券·2024-02-26 16:00Investment Rating - The report maintains a "Buy" rating for the company, indicating expected strong performance relative to the market [8][40]. Core Insights - The company achieved a revenue of 1.648 billion yuan in 2023, representing a year-over-year increase of 3.7%, while the net profit attributable to shareholders reached 215 million yuan, up 41.6% year-over-year [3][9]. - The company has successfully controlled costs, leading to significant profit growth, with a gross margin of 41.79%, an increase of 1.24 percentage points year-over-year [9]. - The company has received new orders in the consumer electronics sector, and progress has been made in the semiconductor and intelligent driving fields, prompting an upward revision of profit forecasts for 2023, 2024, and 2025 [4][23]. Financial Performance Summary - Revenue and Profit Forecasts: The company forecasts net profits of 215 million yuan, 273 million yuan, and 346 million yuan for 2023, 2024, and 2025 respectively, with corresponding EPS of 1.12 yuan, 1.42 yuan, and 1.80 yuan [3][11]. - Cost Management: Total expenses for management, sales, finance, and R&D grew only 1.3% year-over-year, reflecting effective cost control measures implemented since 2022 [9][22]. - Significant Order: The company announced a new order for a measurement device in the consumer electronics sector worth 90.474 million yuan, expected to positively impact operations in 2024 [23].