Tianfeng Securities maintains the buy rating of Bull Group: the advantageous business continues to consolidate LED lighting into a new growth pole – yqqlm

　　Tianfeng SecuritiesPosted on March 13Research reportsay, maintainBull Group(603195.SH, latest price: 137.15 yuan) Buy rating.The reasons for the rating mainly include: 1) The company’s full-year and Q4 operating stable revenueperformanceIt is basically in line with expectations. It is expected that the high growth of the LED lighting business will drive the overall growth, and the high raw material prices will put pressure on the profit level in Q4; 2) Basic business: terminal demand is stable, expansion of B-end + layout in low-tier markets enables long-term growth; 3) Development-oriented Business: The structure of lighting products continued to be optimized, and charging guns/piles and outdoor power supplies opened up outdoor power consumption scenarios. Risk warning: There may be discrepancies between the performance report data and the financial data audited by accounting firms; the risk of slowing macroeconomic growth; the risk of intensified market competition; the risk of new business development not meeting expectations; the risk of new channel development not meeting expectations Risk; risk of price fluctuations of major raw materials.

AI comments:Bull Group3 copies in the past monthbrokerageThe research report pays attention to 3 companies, with an average target price of 160 yuan, which is 22.85 yuan higher than the latest price of 137.15 yuan, and the average target price increases by 16.66%.

(Article source: Daily Economic News)

Article source: Daily Economic News

Responsible editor: 6

Original title: Tianfeng Securities maintains the buy rating of Bull Group: the advantageous business continues to be consolidated, and LED lighting has become a new growth pole