中国银河给予新雷能推荐评级，新雷能点评报告：25H1业绩承压，静待花开

Group 1 - The core viewpoint of the report is a recommendation rating for Xinle Energy (300593.SZ) at a latest price of 20 yuan, based on several positive indicators [2] - Revenue for the first half of 2025 shows year-on-year improvement, although profits are under short-term pressure [2] - Improvement in accounts receivable management is noted, with a slight increase in inventory on a month-on-month basis [2] - The company has sufficient R&D reserves and production capacity, indicating an opening of revenue ceiling [2]