Investment Rating - The report assigns an "Accumulate" rating to the company, indicating a potential stock price increase of 5% to 15% over the next six months [2][3]. Core Insights - The company is a core manufacturer of industrial modules with a comprehensive service capability across the entire industry chain, including design, procurement, modularization, construction (EPFC) [1]. - The company has established long-term stable partnerships with leading clients in the chemical industry, such as BASF, Linde, Covestro, Honeywell, and Umicore, and is expanding into oil and gas energy, nuclear power, and other sectors [1]. - The modular construction approach is becoming a significant trend in modern manufacturing, providing advantages such as better cost and quality control, and the company is well-positioned to benefit from this industry development [1]. - The company has recently completed a large industrial module manufacturing project, which will lay the foundation for future growth and expansion into energy sectors [2]. Financial Summary - The company expects net profits of 212 million, 199 million, and 323 million for the years 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 23x, 25x, and 15x [2]. - Revenue is projected to decline by 17.9% in 2025, followed by a slight decrease in 2026, before rebounding with a 20% increase in 2027 [2]. - The company's total revenue for 2023 is estimated at 3,242 million, with a significant growth of 88.39% compared to the previous year [2].