Investment Rating - The investment rating for the company is "Accumulate" with a target price of 30.99 CNY [5]. Core Insights - The company has successfully won the bid for a low-temperature liquid helium testing system project related to controlled nuclear fusion, marking significant progress in this strategic emerging industry [2][11]. - The company has actively participated in the energy and chemical construction in Xinjiang, achieving over one million cubic meters of oxygen production in the region during the first three quarters [2][11]. - The financial forecast indicates a steady increase in total revenue from 13.31 billion CNY in 2023 to 19.18 billion CNY in 2027, with a projected net profit of 1.22 billion CNY in 2026 [3][12]. Financial Summary - Total revenue is projected to grow from 13,309 million CNY in 2023 to 19,175 million CNY in 2027, reflecting a compound annual growth rate (CAGR) of approximately 9.6% [3][12]. - Net profit attributable to the parent company is expected to decrease from 1,216 million CNY in 2023 to 922 million CNY in 2024, before recovering to 1,355 million CNY by 2027 [3][12]. - Earnings per share (EPS) is forecasted to be 1.24 CNY in 2023, dropping to 0.94 CNY in 2024, and then gradually increasing to 1.39 CNY by 2027 [3][12]. Market Data - The current stock price is 26.80 CNY, with a market capitalization of 26,220 million CNY [6]. - The stock has a 52-week price range of 18.20 CNY to 27.13 CNY [6]. - The company has a net asset value per share of 9.69 CNY, with a price-to-book ratio of 2.8 [7]. Valuation Comparison - The average price-to-earnings (PE) ratio for comparable companies in 2025 is estimated at 28.95, with the company being assigned a PE of 29 for its valuation [13].