康力电梯多地集中交付国债更新电梯，股价近期小幅下跌

Core Viewpoint - Kangli Elevator has made significant progress in business expansion under policy support, as evidenced by the recent delivery of hundreds of government bond replacement elevators in multiple cities, including Beijing, Nanjing, Suzhou, and Changsha [1] Financial Performance - For the first three quarters of 2025, Kangli Elevator reported total operating revenue of 3.069 billion yuan, representing a year-on-year increase of 6.68% [1] - The net profit attributable to shareholders reached 321 million yuan, with a year-on-year growth of 13.95% [1] - The gross profit margin stood at 29.32%, and the debt ratio was 51.39%, indicating stable profitability [1] Stock Performance - As of the close on February 13, 2026, Kangli Elevator's stock price was 8.09 yuan, down 0.37% from the previous day, with a cumulative decline of 1.34% over the past five days [1] - The stock experienced notable volatility, reaching a high of 8.58 yuan and a low of 8.06 yuan on February 10, 2026 [1] - On February 10, the net inflow of main funds was 8.3601 million yuan [1] Market Analysis - Recent institutional valuation analysis indicates that Kangli Elevator has average competitiveness within the industry, with its stock price being in a reasonable range [1] - Overall institutional ratings are neutral, with profit forecasts suggesting a 2.63% year-on-year increase in net profit for 2025 [1]