Grace(SH:603256) Ge Long Hui A P P·2025-12-24 07:43Core Viewpoint - The report from Zhongyou Securities highlights that Honghe Technology's high-performance electronic fabric market share is continuously increasing, strengthening its core competitive advantages [1] Group 1: Product Development - The company is globally leading in the technology of ultra-thin fabric and ultra-fine yarn, with electronic fabric products achieving a minimum thickness of 8 micrometers and electronic yarn products reaching a minimum diameter of 4 micrometers [1] - The rapid development of AI servers and high-frequency communication fields has led to a revenue of 74.12 million yuan from high-performance electronic fabric products, accounting for 13.54% of the main business [1] Group 2: Strategic Initiatives - The company is advancing its fundraising projects to implement integrated production of high-performance electronic fabric and yarn [1] - The continuous enrichment of the company's product structure helps maintain its market competitive advantage [1] Group 3: Investment Rating - The report maintains a "Buy" rating for the company [1]