GLONGHUI June 29丨Dongwu Securities Research Report on the 28th pointed out that Meier Technology (688376.SH) signed an “Investment Proposal Agreement” with the Nanjing Jiangning Economic and Technological Development Zone Management Committee. With this cooperation, the two sides will make full use of their respective resource advantages to promote the development of the two sides in the Jiangning Development Zone, facilitate the development and innovation of the company's high-end equipment manufacturing projects, and further enhance competitiveness. The company's IPO raised 420 million dollars for product production capacity. After the completion of the fund-raising project construction, it is expected that the production capacity of the fan filter unit/high efficiency filter/medium efficiency filter/electrostatic filter will increase by 95%/64%/83%/637%. High-end equipment manufacturing projects have been implemented in cooperation, and production capacity release has been accelerated. The company's on-hand orders are full. After the fund-raising project expansion is completed, the company's production capacity will increase dramatically and growth will accelerate. Maintaining the company's net profit of 1.72/249/321 million yuan in 2025, 40%/45%/29% year-on-year; the EPS for 2023-2025 was 1.28/1.85/2.39 yuan, corresponding to 31/22/17 times PE, maintaining the “buy” rating.