今年前11个月，浙江进出口、出口和进口规模分别居全国第3、第2和第6位。 白明认为，浙江外贸发展不仅在速度上处于全国领先地位，发展质量也在不断提升，很大程度上是因为 浙江能够主动适应国际市场的变化，并且根据市场变化不断优化自身的产品结构，更好地契合国际市场 的需求。 进口方面，浙江机电产品进口增长较快。前11个月，浙江机电产品进口2184.2亿元，增长21.8%，其中 飞机及其他航空器、电脑及零部件分别增长122.9%、43.1%。同期，浙江消费品进口1434.6亿元，增长 8.7%；农产品进口1120.4亿元，增长10.6%。 在白明看来，进口方面，当前的进口增长点更多是工业刚需，民用进口则相对更容易受国内外市场形势 的影响。今年以来，我国经济增速放缓，进口需求也随之相对弱化，再加上一些大宗商品价格普遍偏 低，这也导致进口贸易额看起来相对较少，消费品进口领域同样受到这些因素的影响。如今，要进一步 扩大进口、为进口带来更大发展机会，在试点政策上必须实现新的突破。 商务部研究院学位委员会委员白明在接受21世纪经济报道记者采访时表示，浙江前11个月贸易进出口成 绩相对不错，主要得益于两个关键因素，一方面是市场结构 ...

据杭州海关统计，前11个月，浙江进出口总值5.06万亿元，同比（下同）增长5.3%，高出全国1.7个百分点；其中出口3.83万亿元，增长7.1%， 进口1.23万亿元，增长0.1%。 商务部研究院学位委员会委员白明在接受21世纪经济报道记者采访时表示，浙江前11个月贸易进出口成绩相对不错，主要得益于两个关键因 素，一方面是市场结构的优势，浙江积极拓展多元化市场，尤其是共建"一带一路"国家的市场，这使得浙江外贸受美国高关税、贸易保护主义 等因素的影响相对较小；另一方面，浙江民营经济十分发达，而民营经济适应市场不确定性的能力相对较强。 新兴市场贸易亮点频出 从数据来看，浙江新兴市场开拓成效显著。前11个月，东盟巩固浙江省第一大贸易市场地位，贸易总值为7868.1亿元，增长15.4%，占全省进 出口比重提升1.3个百分点至15.5%，对全省进出口增长贡献率达40.9%。 同期，欧盟为浙江省第二大贸易市场，贸易总值为7701.4亿元，增长8.3%，其中对法国进出口838.4亿元，增长7.3%。 前11个月，浙江对东盟、拉美、中东、非洲等新兴市场出口分别增长16.1%、10.0%、12.0%、15.4%。同期，浙江全省 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company [3] Core Views - The company's performance is currently impacted by the slow ramp-up of production capacity in Malaysia, but the long-term outlook remains positive due to strong order backlog and management's effective strategies [4] - The company is a leader in the North American air compressor market, with strong competitive advantages in distribution channels and R&D capabilities [4] - The report projects a recovery in profitability starting from 2026, with expected net profits of 2.1 billion, 3.7 billion, and 5.1 billion for the years 2025 to 2027 respectively [4] Financial Data and Valuation - Total revenue is projected to grow from 1,216 million in 2023 to 3,440 million in 2027, with a compound annual growth rate (CAGR) of approximately 27% [2][10] - Operating profit is expected to increase from 212 million in 2023 to 566 million in 2027, with a notable growth of 75% in 2026 [2][10] - Net profit attributable to the parent company is forecasted to rise from 175 million in 2023 to 506 million in 2027, with a significant increase of 75% in 2026 [2][10] - The company's price-to-earnings (PE) ratio is projected to decrease from 41.8 in 2023 to 14.5 in 2027, indicating potential undervaluation [2][11] Stock Performance - The company's stock has shown a 53% increase over the past 12 months, indicating strong market performance [4] Key Financial Ratios - The report highlights a projected return on equity (ROE) increase from 11.9% in 2023 to 24.9% in 2027, reflecting improved profitability [11] - The debt-to-asset ratio is expected to rise from 35.7% in 2023 to 48.5% in 2027, indicating a potential increase in leverage [11]