Huafu Securities released a research report on April 22 stating that it gave Tongling Co., Ltd. (301168.SZ) a purchase rating, and the target price was 37.25 yuan. The main reasons for the rating include: 1) the high popularity of photovoltaic installations, which led to a high increase in junction box shipments; 2) impairment dragged down 23Q4 performance, and 24Q1 was affected by costs and expenses; 3) the rapid release of connected wiring, and the new automotive zero business can be expected in the future. (Mainichi Keizai Shimbun)