最后，我们来谈谈机会。其实寻找机会也相对简单，关键在于梳理出哪些板块还没有大涨过。比如光伏 设备，之前有过上涨，但近期出现了回调，这种情况下是可以考虑低吸的。再比如国产算力、人工智 能、CPU等板块，今天虽然出现了大涨，但我们在大涨的板块里要谨慎一些。像IDC电源、液冷概念 等，短线已经上涨了两三个交易日，这时候可以暂时休息，换换其他方向。在国产算力领域，尤其是人 工智能基础设施建设的硬件端，由于业绩有保障，值得关注。对于近期没有上涨过的个股，可以考虑低 吸。此外，固态电池板块也值得关注。这个板块已经连续震荡了半个多月，虽然板块整体在震荡，但其 中一些个股已经连续调整了接近一个月，这些个股可以考虑低吸。如果低吸后不涨，短期可以等待轮动 的机会。还有之前提到的半导体方向，如果近期调整到位，也可以考虑低吸。 总的来说，当前市场处于箱体震荡阶段，风险主要集中在短期涨幅过大、业绩不佳的个股上。而机会则 存在于那些调整到位、近期没有大涨过、具备补涨需求的个股中。 其实大盘的走势相对简单，可以总结为一个箱体震荡的格局。如果在3500点的位置画一条横线，上下各 延伸50个点，基本上就能框出当前市场的波动区间。这个箱体的上下 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [12] Core Views - The company has a strong layout in wind-solar-storage grid-type products and is experiencing continuous breakthroughs in overseas markets, embracing AIDC to establish a second growth curve [3][12] - The company is expected to achieve total revenue of 3.8 billion in 2023, with a projected increase to 6.6 billion by 2027, reflecting a compound annual growth rate (CAGR) of 20.4% [5][12] - Net profit attributable to the parent company is forecasted to grow from 500 million in 2023 to 900 million in 2027, with a significant increase of 88.2% in 2023 [5][12] Financial Summary - Total revenue projections: 3.8 billion in 2023, 3.7 billion in 2024, 4.8 billion in 2025, 5.5 billion in 2026, and 6.6 billion in 2027 [5] - Net profit (attributable to the parent) is expected to be 500 million in 2023, 400 million in 2024, 600 million in 2025, 800 million in 2026, and 900 million in 2027 [5] - Earnings per share (EPS) forecast: 1.10 in 2023, 0.97 in 2024, 1.38 in 2025, 1.66 in 2026, and 1.95 in 2027 [5] - Return on equity (ROE) is projected to improve from 12.8% in 2023 to 14.1% in 2027 [5] Market Data - The company's market capitalization is approximately 13.946 billion [6] - The stock price has ranged from 11.16 to 35.14 over the past 52 weeks [6] - The current stock price is 30.68, with a target price set at 37.81 [12] Business Growth - The engineering transmission business is expected to generate 560 million in revenue in 2024, with a year-on-year growth of 16.7% and a gross margin of 44.5% [12] - Overseas revenue is projected to reach 259 million in 2024, reflecting a year-on-year increase of 122.7% with a gross margin of 54.2% [12] - The company has established over 30 service bases in various countries, including the Netherlands, Brazil, and India, to support its overseas expansion [12] Product Development - The company has invested six years in developing wind-solar-storage grid-type products, which are expected to significantly enhance the safety and stability of power systems [12] - The company has launched various products, including a 1.5-20MW doubly-fed converter for wind power and a 320-350kW string inverter for photovoltaic applications, both designed to support high overload capabilities [12]

Core Viewpoint - The article discusses the evolution of AIDC power architecture towards 800V HVDC and solid-state transformers (SST), highlighting a potential market explosion starting in 2026 as companies validate technologies and secure key customers [1] Group 1 - AIDC power architecture is gradually transitioning to 800V HVDC and SST, with a market explosion expected around 2026 [1] - SST heavily relies on key wide bandgap semiconductor devices (SiC, GaN) and specialized magnetic materials, with current production capacity concentrated among a few manufacturers [1] - High-frequency transformers are central to SST systems, and companies with traditional expertise in key subcomponents are likely to become indispensable partners for major players like Weidi and Delta [1]