Gelonghui October 12th | HTSC research reports pointed out that Jack Technology (603337.SH) Q3 performance has grown rapidly, raising the profit forecast for 2024, considering the company's significant profit elasticity, giving the company a 24x PE for 2024, with a target price of 39.8 yuan (previous value 38.2 yuan), maintaining a "buy" rating. Q3 domestic outfits consumer, exports have weakened, yet the company's performance has grown against the trend. From July to September, the offshore RMB appreciated by approximately 4%, the company had USD 0.48 billion in hand, which may incur about 20 million exchange losses calculated at the 2024 interim report, with a median net income attributable to shareholders of USD 0.22 billion, +55% year-on-year. According to the company's WeChat public account, from September 10th to November 30th, Jack responded to the national equipment update policy by launching a 'trade-in' activity, where Jack's brand's old machines can be traded in for new ones, with a credit of 1000 yuan, which is expected to drive domestic product renewal demand.