China Merchants recently stated in a Research Report that Hengshuai Co., Ltd. (300969.SZ) focuses on micro electric machines, with a Business layout across four major units, promoting product intelligent upgrades. The company covers primary and secondary supporting markets and has established good cooperative relationships with many well-known automobile manufacturers and multinational Auto Parts suppliers, while actively expanding into overseas markets to boost capacity expansion. With the development of electrification and intelligence trends, the sales volume of the company's products is expected to further increase, showing promising future development. An initial coverage has assigned a 'Shareholding' investment rating.