Glonghui, May 17 | According to Guoxin Securities Research Report, Lixun Precision (002475.SZ)'s revenue in 2023 increased 8% year on year, and net profit to mother increased 20% year on year. In 23 years, the company's automotive sector had revenue of 9.252 billion yuan (YoY +50.46%). Relying on strong intelligent manufacturing platforms and industrial capabilities accumulated over many years in the field of consumer electronics and communications, the company quickly achieved cross-border empowerment of products related to the automotive industry, and based on deep strategic partnerships with leading domestic and foreign OEMs and car brand customers, it opened up a wide range of automotive business-related products (high/low voltage wiring harnesses, high-speed wiring harnesses, charging guns, automotive connectors, smart cockpit controllers, LCD meters, 3-in-1 motor systems, AR HUD, DMS, etc.) Market space. The company has a comprehensive and in-depth layout of the consumer electronics business, car interconnection business, and has achieved accurate card positions in AI computing power and automobile intelligence. It is optimistic about the company's development for a long time. The net profit from 24-26 is estimated to be 133/172/20.5 billion yuan. Based on relative valuation, the company was given 20-22 times PE in 24 years, with a target price of 36.95-40.64 yuan. The first coverage gave it a “buy” rating.