研究报告 Research Report [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 Rmb18.50 目标价 Rmb25.76 HTI ESG 4.0-4.0-4.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 1mth 3mth 12mth 绝对值 -11.9% -1.7% 71.9% 绝对值（美元） -13.9% -3.0% 73.1% 相对 MSCI China -7.7% -15.6% 63.7% [Table_Profit] Rmb mn Dec-23A Dec-24E Dec-25E Dec-26E Revenue 11,077 13,146 15,462 17,985 Revenue (+/-) 19% 19% 18% 16% Net profit 816 1,174 1,409 1,666 Net profit (+/-) 285% 44% 20% 18% Diluted EPS (Rmb) 0.60 0.87 1.04 1.23 GPM ...