Huayuan Securities gives Anda Technology an "Overweight" rating. With the cyclical turning point, performance significantly reduces losses, and industry volume and prices are rising together. The advancement of capacity building is expected to reshape growth.

Mingji AI Express: Huayuan Securities released a research report on March 2nd, giving Anda Technology (920809.SH) a “Buy” rating. The main reasons for the rating include: 1) Company: A benchmark enterprise in the transformation of lithium iron phosphate cathode materials, with expected significant profit reduction by 2025 and potential further recovery in profitability; 2) Industry: Increased shipments of lithium iron phosphate driven by high demand for new energy vehicles and energy storage, with leading players strengthening their positions. Anda Technology is among the top ten domestic shipment volumes by 2025; 3) Growth potential: Structural shortages lead to premium prices for lithium battery materials, with high-voltage products becoming an important industry direction. Applications like solid-state batteries have potential; 4) Deployment: Saturated orders and capacity utilization exceeding 95%, with steady capacity expansion. Risks include fluctuations in raw material prices, dependence on major clients and substitution risks, and intensified market competition.

Mingji Headlines (nbdtoutiao)—Exclusive interview with Zhu Guangyao, former Vice Minister of Finance: During the 14th Five-Year Plan period, China’s nominal GDP growth rate could reach about 7%, with the new economic total expected to exceed 36 trillion yuan.

(Reporter Zeng Jianhui)

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