民生证券给予雪峰科技推荐评级，2025年半年报点评：公司区域优势显著，作为龙头有望实现强者恒强

Group 1 - The core viewpoint of the report is that Minsheng Securities recommends Xuefeng Technology (603227.SH, latest price: 8.76 yuan) due to its significant regional advantages and the expectation that industry leaders will continue to strengthen their positions [2] Group 2 - The company is highlighted for its prominent regional advantages, which are seen as a key factor in its competitive positioning [2] - The report suggests that the industry leader is likely to benefit from a "stronger gets stronger" dynamic, indicating a favorable outlook for Xuefeng Technology [2]