Ge Long Hui A P P·2026-01-15 08:37Group 1 - The core viewpoint of the report is that Zhaowei Electromechanical has over 20 years of experience in the micro-drive field, establishing a leading technology and experience platform [1] - The company focuses on a niche market with products having dimensions smaller than 1mm, creating a technical and experience platform for small transmission products [1] - Zhaowei Electromechanical has mastered four key manufacturing processes: injection molding, iron powder sintering, metal injection molding (MIM), and metal machining, enabling mass production of small, precise metal components with complex three-dimensional shapes and special requirements [1] Group 2 - The company operates based on three main business units: parts, transmission, and control, developing integrated micro-drive system solutions [1] - Given the company's robust and growth-oriented business model, along with its advanced technology in robotic dexterous hands and customer expansion, a price-to-earnings (PE) valuation of 100 times is assigned, corresponding to a target price of 155.6 yuan [1] - The report initiates coverage with a "buy" rating for Zhaowei Electromechanical [1]