更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 18 March 2026 Upgrade Poco to Buy (from Hold): Capacity expansion and AI demand tailwinds. Poco is rapidly expanding its chip inductor capacity, addressing supply constraints to capture growing demand from AI accelerator powering systems. We forecast Poco's chip inductor revenue CAGR of 59% over 2025-27e. We lift our TP to RMB106.00 (from RMB70.50) on PE target of 49x reflecting its leading position in chip inductor and fast-growing net profit (41% CAGR in 2025-27e). Poco's shar ...