ZHEJIANG DINGLI(603338) 东吴证券·2025-05-13 09:33Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The recent 90-day window period for U.S.-China trade is expected to enhance the certainty of performance realization for the company [3] - The company has the lowest anti-dumping tax rate of 20.6% in the European market, which is manageable and reflects recognition of its compliance and market operations [4] - The company is anticipated to see sustained growth in performance due to various factors including successful product trials overseas and expansion into new markets [5] Financial Forecasts - Total revenue is projected to grow from 6,312 million RMB in 2023 to 11,705 million RMB by 2027, with a compound annual growth rate (CAGR) of approximately 12.20% [1] - The net profit attributable to shareholders is expected to increase from 1,867 million RMB in 2023 to 2,780 million RMB in 2027, reflecting a significant growth trajectory [1] - The earnings per share (EPS) is forecasted to rise from 3.69 RMB in 2023 to 5.49 RMB in 2027, indicating a strong upward trend [1] Market Data - The closing price of the stock is 49.52 RMB, with a market capitalization of approximately 25,074.35 million RMB [8] - The stock has a price-to-earnings (P/E) ratio of 13.43 based on the latest diluted EPS [1][8] - The company’s net asset value per share is reported at 20.65 RMB [9]