HNZK Electric.(SZ:300035) Huachuang Securities·2026-02-06 04:03Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 28.29 CNY [2][7]. Core Insights - The company is expected to achieve significant revenue growth, with total revenue projected to reach 8,344 million CNY in 2025, representing a year-on-year increase of 49.5% [3][8]. - The net profit attributable to the parent company is forecasted to be between 506 million CNY and 776 million CNY in 2025, reflecting a substantial year-on-year growth of 66.9% [7][8]. - The company is benefiting from the increasing demand in the fast-charging and energy storage markets, positioning itself among the top three in the lithium battery anode business [7][8]. - The integrated production capacity is being steadily developed, with a total investment of 7 billion CNY aimed at building 300,000 tons of integrated anode capacity [7][8]. - The company has successfully achieved mass production of hard carbon anode materials for sodium batteries, indicating a strong technological advancement [7][8]. Financial Summary - Total revenue is projected to grow from 5,581 million CNY in 2024 to 13,454 million CNY by 2027, with a compound annual growth rate (CAGR) of approximately 32% [3][8]. - The net profit is expected to increase from 303 million CNY in 2024 to 1,035 million CNY in 2027, with a CAGR of around 33.4% [3][8]. - Earnings per share (EPS) is forecasted to rise from 0.44 CNY in 2024 to 1.51 CNY in 2027, reflecting a strong growth trajectory [3][8]. - The price-to-earnings (P/E) ratio is projected to decrease from 46 times in 2024 to 14 times in 2027, indicating improving valuation metrics as the company grows [3][8].