FII(SH:601138) Ge Long Hui·2025-12-10 08:35Core Viewpoint - Industrial Fulian's order visibility for 2027 has improved, indicating a potential for sustained performance growth [1] Group 1: Orders and Production - The company has a tight order production schedule and is continuously expanding its capacity [1] - Industrial Fulian maintains an optimistic outlook for AI server cabinet demand in 2026, with new customers being onboarded [1] - The overall order production rhythm is very tight, and project advancements are progressing smoothly, which is expected to provide strong support for annual business growth [1] Group 2: Business Performance - The core business's order scale and value are both increasing significantly, with the GB series products achieving production ramp-up and shipment volumes rising quarter by quarter [1] - Based on the performance of capacity expansion and the optimistic expectation of continued market share growth, along with the industry's overall order visibility extending to 2027, the certainty of the company's performance growth for 2027 is further enhanced [1] - The recommendation to maintain a "buy" rating reflects confidence in the company's future performance [1]