研报掘金丨东海证券：今创集团业绩预增，维持“增持”评级

Company Overview - Jingchuang Group is expected to achieve a net profit attributable to shareholders of 540 million to 620 million yuan by 2025, representing a year-on-year growth of 78.77% to 105.25%, with performance largely in line with expectations [1] Product and Service Development - The company currently offers over a thousand categories of supporting products for rail transit vehicles, gradually establishing an integrated service capability from design and research to manufacturing, delivery, and post-maintenance [1] Industry Trends - The railway transportation capacity is set to upgrade, with ongoing testing of the CR450 train set; the development of new models is driving innovation in vehicle supporting products, and maintenance demand is gradually being released as usage years increase [1] - The company is focusing on the development of emerging industries, with subsidiaries collaborating with professional institutions for investment [1] Competitive Advantage - With technological barriers and a comprehensive product layout, the company is expected to strengthen its advantages in the field of supporting products for rail transit vehicles [1] Rating - The company maintains an "Overweight" rating [1]