伊戈尔(002922)：海外工厂规模化投产 数据中心业务快速成长

Group 1 - The company is actively advancing its global production capacity layout, with factories in Thailand, Mexico, and Texas, USA, aimed at expanding growth opportunities in the transformer market [1] - The data center transformer business is experiencing rapid growth, with a significant increase in orders, particularly in North America, where orders have surged over 400% year-on-year [1][2] - The company has secured large dry transformer projects in Texas, marking a significant breakthrough in the North American market after similar successes in domestic and Japanese markets [2] Group 2 - Revenue forecasts for the company are projected to be 57.95 billion, 74.09 billion, and 94.17 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.64, 1.03, and 1.55 yuan [3] - The current stock price corresponds to a PE ratio of 47.6, 29.9, and 19.7 for the years 2025, 2026, and 2027, indicating a favorable investment opportunity as the company capitalizes on global transformer supply-demand dynamics [3]