The research report from Open Securities pointed out that Shanghai Baosight Software (600845.SH) officially launched the core components of the self-developed industrial control system, the full-stack independent controllable PLC T3 and T4 series products, which have been independently developed over more than 10 years. The Tianxing series PLC products achieve full-stack independent controllability from the operating system, to the runtime software, and then to the programming environment, realizing the independent controllability of the two major PLC core technologies 'Runtime+Compiler', with high reliability, stability, and flexibility. This can be widely used in various industries' automation fields.
Tianxing IDE (Integrated Development Environment) is the first cloud-native development platform in China for large-scale PLCs. It is independent of the operating system, easy to deploy rapidly across platforms, and has an open platform architecture that can integrate third-party applications. Tianxing DSF (Digital Industrial Site) allows various systems involved in manufacturing to run in a decentralized environment, enabling real-time seamless data exchange between any nodes with Tianxing PLC at its core, truly achieving full domain interconnection and digital integration in industrial sites.
Tianxing PLC achieves full-stack independent controllability, with a wide range of applications. The industry is bullish on the company's growth potential as a leading central enterprise in the field of independent controllability. Maintaining the company's expected net income attributable to its parent from 2024 to 2026 at 3.07/4.01/5.29 billion yuan, with the current stock price corresponding to PEs of 26.8/20.5/15.5 times, maintaining a 'buy' rating.