[Honsda] Overcorrection, a 15x PE Nvidia + HiSilicon Chain Equipment Maker for Next Year

English summary

The company's earnings are expected to release RMB 150 million this year, doubling YoY, mainly driven by Rubin equipment. Next year, with domestic additions from Shenghui, Quliang, etc., it could reach RMB 400-500 million. This round of decline is caused by sentiment selling in new stocks with quantitative + AI chain. NV chain Rubin series SOCAMM equipment + TIM dispensing equipment, sole supplier to Wistron. This year, orders have been nearly RMB 500 million with 50% gross margin; the TIM heat sink placement equipment replacing Taiwan Hongteng has passed most domestic advanced packaging factories and binds with H-series foundry QL etc., expected to start ramping up next year. Welcome to communicate.