Anxin securities gave Huaming Power Equipment Co.Ltd(002270) buy rating, 2022q1 performance increased by more than 40% in advance, and the company’s growth logic continued to realize the target price of 9.00 yuan

Anxin securities released a research report on April 10, saying that it gave Huaming Power Equipment Co.Ltd(002270) ( Huaming Power Equipment Co.Ltd(002270) .sz, latest price: 6.58 yuan) a buy rating, with a target price of 9.00 yuan. The reasons for rating mainly include: 1) the company’s performance in 2021 increased steadily, and the overseas market and maintenance service business performed well; 2) The company had a good start in 2022, and the performance in the first quarter is expected to increase by more than 40% year-on-year; 3) The Growth Logic of the company continues to be fulfilled, and the fixed growth completed by major shareholders shows development confidence. Risk tip: power investment is less than expected, and overseas market expansion is less than expected.