KYG Securities research reports point out that De Ye Co., Ltd. (605117.SH) has invested in the construction of a production capacity base in Malaysia, achieving the first step of capacity expansion overseas. The establishment of overseas production capacity bases is a necessary choice for the company to respond to the current complex international situation and potential changes in the trade environment. Through the layout of the Malaysian overseas production capacity base, the company can respond more flexibly to the potential adverse effects of changes in overseas trade policies on the company, enhancing its risk resistance capability. The previous company's profit forecast for 2024-2026 is maintained, expecting the company's net income attributable to the parent to be 3.192/4.106/5.392 billion yuan for 2024-2026, with EPS of 4.95/6.36/8.36 yuan, corresponding to the current stock price PE of 17.4/13.5/10.3 times, maintaining a "Buy" rating.