Glonghui, December 4 | According to the Dongwu Securities Research Report, it is believed that Shanghai Laishi (002252.SZ) is on the cusp of industry integration. Approval of the pulp station was accelerated in the last two years of the 14th Five-Year Plan. It is estimated that by 2025, the pulp collection volume will reach 2,000 tons. The company has obtained 2 single plasma collection stations and blood product production qualifications through a strategic acquisition of Guangxi Guanfeng and an in-depth layout in Guangxi. At the same time, demand for the company's core blood products, hydrogenol and albumin, has surged again, and supply is tight. Furthermore, the development of new products also shows the broad scope for the company's future growth. The bank predicts that Shanghai Rishi may achieve operating income of more than 10.66 billion yuan in 2025, and the estimated market value target for 2025 is 85 billion yuan. For the first time coverage, a “buy” rating is given.