伊戈尔：首次覆盖：深耕新能源产业25年，海外布局打开成长空间

[Table_Info] 首次覆盖优于大市 Initiate with OUTPERFORM 评级 优于大市 OUTPERFORM 现价 Rmb18.99 目标价 Rmb24.33 HTI ESG 4.3-4.3-4.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 1mth 3mth 12mth 绝对值 5.0% 2.1% 16.3% 绝对值（美元） 5.7% 4.9% 19.8% 相对 MSCI China -23.3% -17.8% -3.6% [Table_P rofit] Rmb mn Dec-23A Dec-24E Dec-25E Dec-26E Revenue 3,630 4,587 5,708 6,932 Revenue (+/-) 29% 26% 24% 21% Net profit 209 355 471 576 Net profit (+/-) 9% 70% 32% 22% Diluted EPS (Rmb) 0.53 0.91 1.20 1.47 GPM 22.3% 23.7% 23.4% 22.9% ROE 8 ...