Ge Long Hui A P P·2025-08-06 07:35Core Viewpoint - The report from Huazhong Securities indicates that Aorijin's investment in overseas production lines is expected to improve profitability through capacity expansion [1] Group 1: Investment Details - Aorijin plans to invest approximately RMB 441.6 million in the construction of a two-piece can production line project in Thailand, which includes building construction, equipment relocation, new equipment purchase, and working capital [1] - This overseas investment aligns with the company's international development strategy and aims to expand its two-piece can business in Southeast Asia and Central Asia [1] Group 2: Market Position and Strategy - The project is expected to help Aorijin optimize its product structure and enhance its market share in overseas markets, thereby increasing its international competitiveness and brand influence [1] - As the market share for two-piece cans becomes more concentrated, the company's bargaining power and profitability are anticipated to improve [1] Group 3: Business Performance - Aorijin, as a leading enterprise in the metal packaging industry, has shown significant results in optimizing its three-piece can product categories and expanding its customer base, leading to stable revenue growth [1] - The successful acquisition of COFCO Packaging has significantly increased the market share of the two-piece can business, enhancing bargaining power and providing substantial potential for profitability improvement [1] - The report maintains a "buy" rating for the company [1]