Core Viewpoint - Jinshi Technology's stock price experienced a significant decline on July 30, closing at 16.01 yuan, down 0.87 yuan or 5.15% from the previous trading day [1] Group 1: Stock Performance - On July 30, Jinshi Technology opened at 16.88 yuan, reached a high of 17.13 yuan, and fell to a low of 15.70 yuan, resulting in an intraday volatility of 8.47% [1] - The trading volume for the day was 118,492 hands, with a total transaction amount of 1.93 billion yuan [1] - During the early trading session, the stock saw a rapid decline, dropping over 2% within five minutes [1] - By the end of the day, there was a net outflow of 9.36 million yuan from the main funds [1] Group 2: Company Overview - Jinshi Technology is primarily engaged in the manufacturing of power supply equipment and is registered in Sichuan Province [1] - The company operates within emerging technology sectors, including energy storage and supercapacitors [1]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's performance significantly exceeded market expectations, driven by strong overseas demand and improved profitability [8] - The company is positioned as a leading player in the high-voltage electrical equipment sector, with substantial growth in overseas orders and domestic market share [8] - The report projects continued robust growth in revenue and net profit for the coming years, with a target price of 90.7 CNY per share based on a 25x PE ratio for 2025 [8] Financial Summary - Total revenue is forecasted to grow from 12,460 million CNY in 2023 to 29,631 million CNY by 2027, reflecting a compound annual growth rate (CAGR) of approximately 23% [1] - Net profit attributable to shareholders is expected to increase from 1,559 million CNY in 2023 to 5,003 million CNY in 2027, with a CAGR of around 31% [1] - The latest diluted EPS is projected to rise from 2.00 CNY in 2023 to 6.43 CNY in 2027, indicating strong earnings growth [1] Market Performance - The company's stock closed at 69.99 CNY, with a market capitalization of approximately 54,480.59 million CNY [5] - The stock has shown a price-to-earnings (P/E) ratio of 34.94 for 2023, decreasing to 10.89 by 2027, suggesting increasing valuation attractiveness over time [1] Operational Highlights - The company achieved a significant increase in overseas orders, with expectations of over 80% growth in new overseas contracts for 2024 [8] - The company has successfully penetrated various international markets, including Europe, the Middle East, and South America, enhancing its competitive position [8] - The domestic market has also seen a boost, with a 94% increase in bids won from the State Grid, indicating a strong foothold in high-end product segments [8]