Gelonghui, December 2｜China International Capital Corporation's research report pointed out that Wuxi Lead Intelligent Equipment (300450.SZ) has signed a global strategy cooperation agreement with Contemporary Amperex Technology for a period of three years. This marks the second time the company has signed a global strategy cooperation agreement with Ningde since September 2020, demonstrating the depth and continuity of cooperation between the two parties. It is believed that after a two-year lull in domestic battery expansion, a new round of expansion is expected to begin. Coupled with new technology drivers, the company is likely to reverse the pressure on performance and enter a new upturn phase. Considering the deepening cooperation with leading battery manufacturers and the opportunities for a new round of expansion downstream, the target price has been raised by 25% to 28.8 yuan, corresponding to a 21x P/E for 2025, indicating a 22% upside potential, and maintaining the "outperform industry" rating.