Anxin securities first gave Ningbo Orient Wires & Cables Co.Ltd(603606) buy rating: the company is expected to fully benefit from the large order of submarine cable, and the target price of China Haifeng construction is 71.51 yuan

Anxin securities released a research report on February 15, saying that the first purchase rating of Ningbo Orient Wires & Cables Co.Ltd(603606) (603606. Sh, latest price: 55.66 yuan) has a target price of 71.51 yuan. The reasons for the rating mainly include: 1) the company has won the submarine cable order of the fourth project of Qingzhou in Yangjiang, Mingyang, and the bid winning price has a limited decline compared with the rush loading period; 2) China’s sea breeze parity process has accelerated, and the head submarine cable manufacturers have fully benefited; 3) The company has abundant orders in hand and the new production capacity is gradually released. Risk tip: the development of offshore wind power is less than expected, the price of raw materials rises, market competition intensifies, etc.