研报掘金丨华福证券：宇晶股份盈利能力提升，上调评级至“买入”

Core Viewpoint - Yujing Co., Ltd. has secured significant overseas photovoltaic orders, highlighting its capability for international business expansion [1] Group 1: Overseas Business Expansion - The company is actively exploring opportunities in the consumer electronics and semiconductor industries, which is expected to optimize its product structure in the coming years [1] - The two overseas orders announced for October 2024 are expected to positively impact the company's operating performance in 2025 [1] Group 2: Financial Projections - A new major overseas order worth 200 million has been signed for December 2025 [1] - Revenue growth rates for 2026 and 2027 have been revised upwards to 53% and 36% respectively [1] - Gross profit margins for 2026 and 2027 have been adjusted to 30.4% and 31.4% respectively [1] Group 3: Investment Rating - Due to the improvement in the company's profitability, the investment rating has been upgraded to "Buy" [1]