研报掘金丨国泰海通：首予浙江鼎力“增持”评级，目标价71.1元

Group 1 - The core viewpoint of the report highlights that Zhejiang Dingli focuses on high-altitude work platforms and is the first manufacturer globally to achieve full electrification of its product line [1] - The company has successfully electrified its entire product range, covering three major series: boom lifts, scissor lifts, and vertical lifts, demonstrating its capability for platform iteration and differentiated expansion [1] - The competitive landscape in China's high-altitude work platform market is intense, with a total rental market inventory of 669,200 units, including 487,200 scissor lifts and 172,700 boom lifts, indicating sustained long-term demand for new and replacement units [1] Group 2 - The report projects that Zhejiang Dingli has the potential to increase its market share globally as it continues to expand its product offerings [1] - The company is compared to peers and is assigned a valuation of 18 times PE for 2025, with a target price set at 71.1 yuan [1] - The initial coverage of the company includes a recommendation to "buy" [1]