Guohai Securities: First Give Lan Dai Technology an "Increase Holding" Rating, Double Drive of "Power Transmission + Touch Display"

Guohai Securities report pointed out that with the dual drive of "power transmission + touch screen display", Landas Technology's net profit attributable to mothers in the first half of 2025 is expected to increase by 63% year-on-year. In terms of power transmission, the company focuses on core components of new energy vehicles, improves production capacity and product quality, deeply cultivates high-quality customers, increases sales volume of core products, and significantly increases operating income and profits year-on-year. In terms of touch screen display, against the backdrop of gradual industry recovery, the company seizes the development opportunities of cover glass and car touch screens, actively expands major customer base, improves product gross profit margin effectively, and achieves significant increase in net profit year-on-year. Considering the company's automotive business benefits from the continuous growth of new energy vehicles and the rapid development of humanoid robot joint business, it is expected that the company will achieve net profit attributable to mothers of 227 million, 283 million, and 359 million yuan in 2025-2027, with year-on-year growth rates of 83%, 24%, and 27%; EPS will be 0.35, 0.43, 0.55 yuan, corresponding to PE valuations of 37, 30, 24 times the current stock price, first coverage, and a "hold" rating is given.