Ge Long Hui A P P·2026-01-16 06:19Core Viewpoint - Dongwu Securities report indicates that Siyuan Electric is expected to achieve a net profit attributable to shareholders of 3.163 billion yuan in 2025, representing a year-on-year increase of 54%, with Q4 2025 net profit projected at 999 million yuan, reflecting a quarter-on-quarter increase of 79% and a year-on-year increase of 11% [1] Group 1: Financial Performance - The expected net profit for 2025 is 3.163 billion yuan, with a year-on-year growth of 54% [1] - The Q4 2025 net profit is projected to be 999 million yuan, with a quarter-on-quarter increase of 79% and a year-on-year increase of 11% [1] - The profit forecasts for 2025-2027 have been revised upwards to 3.163 billion, 4.523 billion, and 6.059 billion yuan respectively, compared to previous estimates of 3.017 billion, 4.069 billion, and 5.282 billion yuan [1] Group 2: Market Dynamics - The increase in overseas business revenue is expected to enhance the company's profitability [1] - The demand from both domestic and overseas markets is anticipated to drive growth, supported by a supercycle and operational alpha [1] - The successful penetration into new overseas markets has led to performance exceeding market expectations [1] Group 3: Valuation - The company is assigned a target price of 231.6 yuan per share based on a 40x PE ratio for 2026 [1] - The company maintains a "buy" rating based on the sustained outperformance of its profitability [1]