天风证券给予诺邦股份买入评级：高端水刺无纺布龙头，材料+制品+品牌全面成长

Group 1 - The core viewpoint of the report is that Nobon Co., Ltd. (603238.SH) is rated as a "buy" due to its differentiated position as a water-jet non-woven fabric supplier and its steadily recovering profitability [2] - The non-woven fabric industry is experiencing a supply-demand rebalancing, leading to high prosperity in the water-jet non-woven fabric segment [2] - The company is focusing on a full-chain growth engine by simultaneously advancing its roll materials, products, and brand development [2]