DHI(SZ:002487) Soochow Securities·2026-01-29 09:58Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance in 2025 is in line with expectations, with a significant shift towards becoming a full-service solution provider [1] - The company is expected to benefit from the accelerated growth in the European offshore wind market, leading to an upward revision of profit forecasts for 2025-2027 [8] - The company has secured a major order for transition segments, indicating a transition from being a mere equipment supplier to a comprehensive solution provider [8] Financial Summary - Total revenue is projected to increase from 3,780 million RMB in 2024 to 6,752 million RMB in 2025, reflecting a year-on-year growth of 78.63% [1] - Net profit attributable to shareholders is expected to rise from 473.87 million RMB in 2024 to 1,125.70 million RMB in 2025, representing a year-on-year increase of 137.55% [1] - The earnings per share (EPS) is forecasted to grow from 0.74 RMB in 2024 to 1.77 RMB in 2025 [1] - The price-to-earnings (P/E) ratio is projected to decrease from 84.77 in 2024 to 35.69 in 2025, indicating improved valuation metrics [1]