Hangcha (SH:603298) Ge Long Hui A P P·2026-01-16 09:06Core Viewpoint - The report from Guotou Securities indicates that Hangcha Group's optimization of forklift structure drives steady growth in its main business, with embodied intelligence expected to enter a fast track [1] Group 1: Financial Performance - By 2025, the company is projected to achieve a net profit attributable to shareholders of 2.214 billion yuan, representing a year-on-year growth of 10.0% [1] Group 2: Strategic Focus - The company will shift more strategic focus towards the logistics sector of embodied intelligence [1] - Through the acquisition of Guozu Robotics and the establishment of three major intelligent business clusters, along with the large-scale application of over 7,000 mobile robots, the company demonstrates strong capabilities and leadership in the intelligent logistics field [1] Group 3: Global Expansion - The company is set to achieve global expansion in intelligent logistics, with its U.S. subsidiary expected to commence operations by 2025 [1] Group 4: Market Potential - Continuous investment in innovation allows the company to accelerate its expansion into the trillion-yuan intelligent logistics market and the multi-trillion-yuan embodied intelligence market [1] Group 5: Investment Rating - The investment rating is maintained at "Buy-A," with a target price of 34.69 yuan over the next six months, equivalent to an 18 times dynamic price-to-earnings ratio for 2026 [1]