12 January 2026 | 7:34PM HKT Equity Research Nantong Jianghai Capacitor Co. (002484.SZ) Upgrade to Buy from Neutral with TP up by 26% as core aluminum electrolytic capacitors likely to benefit from AIDC earlier than supercaps 002484.SZ 12m Price Target: Rmb36.10 Price: Rmb30.04 Upside: 20.2% We upgrade Jianghai to Buy from Neutral and raise TP to Rmb36.1 (+26% vs. Rmb28.6 previously), reflecting 6%~12%/3%~11% upward revisions on 2026E-30E sales/net income respectively, as aluminum electrolytic capacitors wi ...