On December 11, Gelonghui reported that China Merchants' recent Research Reports indicated that Hengshuai Co., Ltd. (300969.SZ) focuses on micro Electric Machines and has established a business layout across four major units to promote the intelligent upgrade of products. The company covers the primary and secondary supporting markets and has established good cooperative relationships with many well-known automotive manufacturers and multinational Auto Parts suppliers, while also actively expanding into overseas markets to enhance capacity expansion. With the development of electrification and intelligence trends, the company's product sales are expected to further increase, and its future development looks promising. The initial coverage gives a "Shareholding" investment rating.