江苏支持全省约5600部老旧电梯更新 同力日升或受益

Group 1 - Jiangsu has been approved for over 800 million yuan in special long-term government bond funding to support the upgrade of approximately 5,600 old elevators in the province [1] - In Kunshan, Jiangsu, over 2,000 elevators will be upgraded this year, with 96% of the old elevator renovations completed by KONE Elevator [1] - The elevator industry in China is experiencing a continuous increase in ownership, leading to a growing demand for replacements [1] Group 2 - Tongli Risheng (605286) is a leading supplier in the elevator accessory product sector, having established long-term relationships with major elevator manufacturers such as KONE, Schindler, Otis, and Hitachi [1] - The company has diversified into stainless steel raw material processing since 2011, allowing it to better mitigate risks associated with fluctuations in upstream raw material prices [1] - According to Zhongtai Securities, the elevator industry is facing challenges due to the real estate downturn, but the demand for installation and upgrades presents growth opportunities [2] Group 3 - Tongli Risheng's elevator components are diverse and meet the "one-stop, diversified" procurement needs of complete elevator manufacturers, indicating a stable development outlook for its elevator business [2] - The company is also expanding into the renewable energy sector, with projected net profits for Q1 2025 expected to increase by 40% to 60% compared to the same period last year [2] - The growth in the company's renewable energy business is attributed to ongoing development projects and the commissioning of multiple wind power and energy storage projects [2]