EBSCN·2026-01-17 09:45Investment Rating - The industry is rated as "Buy," indicating an expected investment return exceeding the market benchmark index by more than 15% over the next 6-12 months [1]. Core Insights - The report emphasizes the potential for significant investment returns in the industry, driven by favorable market conditions and growth opportunities [1]. Summary by Sections Industry Investment Rating - The report categorizes investment ratings into five levels: Buy, Accumulate, Neutral, Reduce, and Sell, with specific expected return ranges relative to market benchmarks [1]. Valuation Methodology Limitations - The analysis is based on various assumptions, and different assumptions may lead to significantly different outcomes. The valuation methods and models used have inherent limitations, and the results do not guarantee that the securities will trade at the indicated prices [2]. Analyst Declaration - The report is prepared by analysts with qualifications from the China Securities Association, ensuring a diligent and professional approach to research. Analysts are responsible for the content and opinions expressed in the report [3]. Legal Entity Declaration - The report is produced by Everbright Securities Co., Ltd., which is licensed by the China Securities Regulatory Commission for securities investment consulting business [4]. Special Declaration - Everbright Securities Co., Ltd. is one of the first three pilot securities companies approved by the China Securities Regulatory Commission and serves as a core financial service platform of China Everbright Group [5].