研报掘金丨平安证券：维持鹏辉能源“推荐”评级，看好后续脱困后的增长潜力

Core Viewpoint - Ping An Securities report indicates that Penghui Energy experienced a net loss attributable to shareholders of 88 million yuan in the first half of the year, marking a shift from profit to loss year-on-year [1] Financial Performance - In the second quarter, the company reported a net loss attributable to shareholders of 43 million yuan, also a year-on-year shift from profit to loss [1] - The company has recorded net losses for three consecutive quarters since Q4 2024 [1] Profit Forecast - Due to the loss in the first half of the year and competitive pressures in lithium battery pricing, the profit forecasts for 2025, 2026, and 2027 have been revised down to 40 million, 220 million, and 300 million yuan respectively, compared to previous estimates of 140 million, 250 million, and 320 million yuan [1] - The corresponding price-to-earnings ratios based on the closing price on August 25 are projected to be 341.1, 63.3, and 46.3 times for 2025, 2026, and 2027 respectively [1] Business Outlook - The company maintains a solid layout in the energy storage lithium battery sector, with clear planning across three major business segments [1] - The global demand for energy storage batteries is expected to continue growing, with significant potential in emerging markets [1] - The company's energy storage cells and commercial storage products are competitive in the market, and the long-term value of the company is still recognized [1] - There is optimism regarding the company's growth potential after overcoming current challenges, maintaining a "recommended" rating [1]