Gelonghui November 6th | Haitong Securities research report pointed out that anhui jianghuai automobile group corp.,ltd. (600418.SH) achieved a net profit attributable to the mother of 0.63 billion yuan in the first three quarters, a significant increase of about 2.4 times year-on-year. The main reasons are: first, the company continues to optimize its product structure and debt structure, actively explore domestic and foreign markets, increase exchange gains and reduce financial expenses; second, the company continues to focus on optimizing its asset structure, improving resource allocation efficiency, and significantly increasing asset disposal income during the reporting period. The company actively embraces intelligent technology, which not only strengthens its core business, but also obtains new development opportunities through open cooperation, thereby continuously improving the company's operating conditions. Considering that the company is still in the early stage of development and has greater room for growth, a PB ratio of 7.0-8.0 times for 2024 is recommended, corresponding to a reasonable price range of 43.26-49.44 yuan, and an "Outperform the Market" rating is given.