民生证券给予沪光股份推荐评级，深度报告：国产线束之光 连接器助力成长

Group 1 - The core viewpoint of the report is that Minsheng Securities recommends Hu Guang Co., Ltd. (605333.SH) with a target price of 35.15 yuan, highlighting the growth potential in the smart electric vehicle sector and the company's competitive advantages in the domestic market [2] - The report emphasizes that the smart electric vehicle market is rapidly developing, and Hu Guang is positioned to accelerate the replacement of traditional wiring harnesses with domestic alternatives [2] - It notes that the customer structure of Hu Guang is continuously optimizing, and the company's globalization strategy is progressing smoothly [2] Group 2 - The report identifies Hu Guang's potential for growth through the expansion of its connector business, which is seen as a second growth curve for the company [2] - The report also mentions several risk factors, including the possibility of new energy vehicle sales falling short of expectations and high customer concentration [2] - Additionally, fluctuations in raw material prices and the pace of progress in electric intelligence are highlighted as potential risks [2]