ZHONGLI GROUP(SZ:002309) Dong Jian Yan Bao·2025-03-11 15:41Investment Rating - The report does not explicitly state an investment rating for the solar equipment industry or the specific company ST Zhongli [1]. Core Insights - The report highlights that after restructuring, ST Zhongli has received significant support from its controlling shareholder, Xiamen Jianfa, in enhancing its management and operational capabilities [18]. - The company is focusing on a light asset operation model in its solar business, prioritizing overseas markets, particularly in Europe, Australia, and the Middle East, while also exploring emerging markets in Africa and West Asia [18]. - The dual business model of the company, which includes special cables and solar energy, is considered crucial for the new energy sector and high-end equipment manufacturing [20]. Summary by Sections 1. Basic Research Information - The research was conducted on ST Zhongli, a company in the solar equipment industry, on March 7, 2025, with the investor relations director present for discussions [13]. 2. Detailed Research Institutions - The institutions involved in the research include Changjiang Securities, Wuhan Changjiang, Dongshang Private Equity, Hubei Xueqiu Investment, and Wenlan Private Equity [14]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [16]. 4. Main Content Information - The company is currently in a recovery phase post-restructuring, with a focus on optimizing its business operations and market recovery [20]. - The company aims to enhance its market presence and customer base through strategic collaborations and operational improvements [18]. - There is an emphasis on maintaining a strict KPI assessment system to ensure operational efficiency and profitability [20].