Gelonghui, January 24 | Huachuang Securities Research Report pointed out that considering the strong profitability of Sunshine Power (300274.SZ), 17x PE was given in 2024, corresponding to a target price of 116.21 yuan, maintaining a “strong push” rating. The bank expects the company to ship 120 to 140 GW of inverters in 2023, of which around 40 to 55 GW will be shipped in 23Q4. Shipments in the first quarter are expected to remain at a high level as overseas channels approach the end of warehousing. Considering expectations of interest rate cuts and the bottoming out of prices for photovoltaic modules and lithium carbonate, demand in the US optical storage market is more elastic in 2024, and may usher in a sharp increase. At the same time, the US is one of the most profitable overseas optical storage markets. The company accounts for a relatively high share of US reserves and is expected to continue to benefit.