DHI(SZ:002487) Soochow Securities·2026-01-29 10:24Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is transitioning from a pure equipment supplier to a full-service solution provider, which is expected to significantly enhance its value proposition [8] - The European offshore wind market is accelerating, and the company is poised to benefit from this growth [8] - The company has secured a significant order for 63 transition pieces at a price of 53,000 RMB per ton, indicating strong demand and pricing power [8] Financial Summary - Total revenue forecast for 2025 is 6,752 million RMB, representing a year-on-year growth of 78.63% [1] - Net profit attributable to shareholders is projected to reach 1,125.70 million RMB in 2025, a 137.55% increase compared to the previous year [1] - The earnings per share (EPS) for 2025 is estimated at 1.77 RMB, with a price-to-earnings (P/E) ratio of 35.69 [1] - The company’s net profit for 2026 and 2027 is expected to be 1,786.97 million RMB and 2,570.93 million RMB, respectively, with corresponding growth rates of 58.74% and 43.87% [1]