GLONGHUI July 25丨Huajin Securities's research report on the 24th pointed out that being optimistic about the expansion of Jinguan Co., Ltd. (300510.SZ)'s new energy business such as energy storage and charging and switching, breakthroughs in overseas markets are worth looking forward to. It is predicted that the company's net profit for 2023-25 will be 174, 2.67, and 463 million yuan respectively. Corresponding EPS is 0.21, 0.32, and 0.56 yuan, PE is 29, 19, and 11 times. This is the first coverage, and a “purchase” rating is given. Overseas markets for the charging and switching business are worth looking forward to. In the field of new energy charging infrastructure business, the company is one of the few domestic enterprises that have mastered high-power fast charging technology, V2X charging and switching technology, flexible intelligent charging technology, and ordered charging technology. The company actively lays out and expands overseas markets, uses charging and switching equipment as a key product in overseas export business, vigorously forms overseas teams, accelerates the implementation of overseas orders through existing business channels and cooperation with leading international energy companies, and further opens up space for the company's business growth.