研报掘金丨长江证券：西部超导业绩迎来快速释放期，长期配置价值凸显

Core Viewpoint - Changjiang Securities research report indicates that Western Superconducting Technologies is a high-quality leader in the titanium material industry, with strong long-term realization potential and considerable profitability, driven by high-profit elasticity of high-temperature alloys and vast growth space for superconducting products [1] Group 1: Business Performance - Titanium alloy business has consistently supported the company's steady growth in performance, despite short-term fluctuations in growth rates due to downstream delivery schedules in 2023-2024 [1] - Long-term outlook for the titanium alloy business remains positive, expected to maintain stable growth and effectively support the company's performance [1] Group 2: Superconducting Products - The superconducting products business has experienced rapid development, with significant improvements in both product scale and profitability [1] - The growth potential for superconducting products is vast, and the company is expected to achieve a new level of profitability due to its first-mover advantage and technological accumulation, creating high barriers to entry [1] Group 3: Overall Company Outlook - As a leading player in the new materials sector, the company is positioned for a rapid release of performance across its three business segments, highlighting its long-term investment value [1]