Investment Rating - The report assigns an AHP score of 1.58 to the company, placing it in the 21.1% percentile of the non-technology innovation system AHP model, indicating a mid-to-low level position in the industry [3][7]. Core Insights - The company focuses on vacuum storage and material technology, leading the market with its vacuum storage products and TPE elastomer materials, driven by a dual strategy of cost reduction and channel expansion [3][9]. - The safety protection market presents significant growth opportunities, with the company successfully developing new product categories, including advanced protective materials, which are expected to become new profit growth points [15][25]. - The company has shown continuous revenue and net profit growth, with a compound annual growth rate (CAGR) of 26.43% for revenue and 22.05% for net profit from 2022 to 2024, outperforming comparable companies [18][20]. Summary by Sections AHP Score and Expected Allocation Ratio - The company achieved an AHP score of 1.58, with expected allocation ratios for offline investors being 0.0284% for Class A and 0.0223% for Class B under a neutral scenario [7][8]. Fundamental Highlights and Features - The company is the exclusive supplier of vacuum compression bags for China's aerospace sector and has a leading market share in vacuum storage products, with over 20% market share on Tmall from 2021 to 2023 [9][10]. - The company has established a comprehensive sales strategy, focusing on online sales while maintaining a presence in international markets, with products sold in over 160 countries [10][12]. Financial Metrics Comparison with Peers - The company’s revenue for 2022, 2023, and 2024 was 6.38 billion, 8.35 billion, and 10.20 billion respectively, with net profits of 0.59 billion, 0.85 billion, and 0.88 billion, placing it in the mid-range compared to peers [18][19]. - The gross margin for the company was significantly higher than that of comparable companies, with rates of 55.92%, 59.36%, and 57.55% from 2022 to 2024 [20][21]. Fundraising Projects and Development Vision - The company plans to raise funds for the construction of a production and logistics center, a research and development center, and an information system upgrade, aiming to enhance operational efficiency and core competitiveness [25][26].