Anxin securities first gave Shanghai Athub Co.Ltd(603881) overweight rating: cabinet reserves rose steadily, and EBITDA continued to grow

Anxin securities released a research report on February 7, saying that it gave an overweight rating of Shanghai Athub Co.Ltd(603881) (603881. Sh, latest price: 34.62 yuan) for the first time. The reasons for rating mainly include: 1) the operation scale has been steadily improved and the project reserves are abundant; 2) Ebitdamargin is leading in the industry and its profitability continues to improve; 3) Grasp the core resources and comply with the industry trend; 4) Deeply cultivate the third-party IDC service, and the operation capacity is leading in the industry. Risk tips: risk of dependence on key customers, risk of intensified industry competition, risk of project construction and delivery falling short of expectations, risk of epidemic affecting project progress.