AHHL(SH:600761) Xin Lang Cai Jing·2025-07-31 10:26Group 1: Core Insights - The company has established a strategic layout for international markets with a focus on localization, resulting in a significant increase in export volume and market share [1] - The company aims to enhance its global supply chain and brand influence by setting up a joint venture in Thailand, planning to produce 10,000 forklifts and lithium battery packs annually [1] - The industrial vehicle sector is experiencing a structural shift towards electric and new energy vehicles, with the company leading in lithium battery technology and production capacity [2] Group 2: Industry Trends - The total sales volume of industrial vehicles is projected to reach 1.286 million units in 2024, reflecting a year-on-year growth of 9.5%, with electric forklifts accounting for 73.6% of the market [2] - The company is advancing its lithium battery and hybrid forklift series, achieving a breakthrough in distributed electric drive technology and launching a 55-ton lithium forklift [2] - The integration of smart logistics solutions is being accelerated through acquisitions and partnerships, enhancing the company's capabilities in providing comprehensive solutions across various sectors [3] Group 3: Financial Projections - Revenue forecasts for the company are set at 18.673 billion, 20.356 billion, and 22.023 billion yuan for 2025 to 2027, with corresponding EPS of 1.61, 1.80, and 1.99 yuan [4] - The current price-to-earnings ratios are projected to be 11.3, 10.1, and 9.1 for the same period, indicating a favorable investment outlook based on the company's strategic initiatives and technological advantages [4]