Mei Ri Jing Ji Xin Wen·2025-07-31 09:29Group 1 - The core viewpoint of the report is that Aima Technology (603529.SH) is rated as a "buy" with a target price of 56.64 yuan, reflecting a positive outlook on the company's growth potential [2] - The report highlights that advancements in three-electric technology and smart features are driving an increase in average selling price (ASP), with clear growth logic in product and channel optimization [2] - The second growth curve for the company includes international expansion and the electric tricycle segment, which opens up new growth opportunities [2] Group 2 - The report mentions potential risks such as weak stimulus for terminal replacement through trade-in programs, intense competition leading to price wars, significant fluctuations in raw material prices, risks associated with share unlocks, and the risk of convertible bonds trading above the current stock price [2]