Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% within the next six months [11]. Core Views - The company's tank container business is under pressure, leading to a decline in profitability and business performance. In H1 2025, the company achieved revenue of 1.214 billion yuan, a year-on-year decrease of 12.68%, and a net profit attributable to shareholders of 63 million yuan, down 45.61% year-on-year [4][5]. - Despite challenges in the chemical industry and a decrease in demand for tank containers, the company maintains its leading market share globally. The medical equipment segment is emerging as a second growth driver, with revenue from medical device components increasing by 16.12% year-on-year in H1 2025 [5][6]. - The company is exploring opportunities in the controllable nuclear fusion sector, indicating potential for significant market expansion [5]. Financial Summary - Revenue projections for 2025-2027 are 3.002 billion yuan, 3.998 billion yuan, and 4.916 billion yuan, with year-on-year growth rates of -10.36%, 33.16%, and 22.97% respectively. Net profit attributable to shareholders is forecasted at 182 million yuan, 307 million yuan, and 449 million yuan, with growth rates of -40.01%, 68.45%, and 46.24% respectively [6][8]. - The company's PE ratios for the same period are projected to be 57.80, 34.31, and 23.46 [6][8].
中集环科（301559）：罐箱业务静待反转，新业务布局有序推进