Baolong Technology's 2024 performance forecast and valuation analysis

It is estimated that Baolong Technology's revenue in 2024 will reach 7.6 billion yuan, a year-on-year increase of 27%. Among them, the air suspension business will double its revenue to 800 million yuan as the new downstream fixed-point projects continue to increase in volume; the sensor business will continue to achieve domestic substitution, an increase of 300 million yuan; ADAS camera and other businesses will initially increase in volume, an increase of 200 million yuan. The performance in 2024 is expected to be 520 million yuan, with a price-earnings ratio of 21 times. The performance in 2025 is expected to be 730 million yuan, a year-on-year increase of 40%, and a price-earnings ratio of about 15 times.