---
title: "Huatai Securities: Maintains \"Buy\" rating on Hexing, short-term disturbances do not change long-term trend"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/254378594.md"
description: "Huatai Securities maintains a \"Buy\" rating on Hexing Electric Power, despite a year-on-year decline of 25.74% in net profit attributable to the parent company in H1 2025 and a decline of 20.16% in Q2 2025. The short-term revenue decline is affected by fluctuations in overseas demand, but the long-term trend remains unchanged. The company is accelerating its global layout in the smart power distribution business, with its South Africa factory already in production, enhancing its competitiveness in the domestic market, and winning multiple bids totaling over 300 million yuan. The new energy business promotes the coordinated development of the global supply chain through digital system construction"
datetime: "2025-08-25T06:56:36.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/254378594.md)
  - [en](https://longbridge.com/en/news/254378594.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/254378594.md)
---

# Huatai Securities: Maintains "Buy" rating on Hexing, short-term disturbances do not change long-term trend

Huahuan Securities research report points out that Hexing Electric achieved a net profit attributable to the parent company of 396 million yuan in H1 2025, a year-on-year decrease of 25.74%, and a net profit attributable to the parent company of 255 million yuan in Q2 2025, a year-on-year decrease of 20.16%. Fluctuations in demand from individual overseas countries led to a decline in revenue, but short-term disturbances do not change the long-term trend. Smart distribution and utilization of electricity business: In overseas markets, adhering to the principle of "global layout and localized operation" for coordinated development, accelerating the comprehensive deployment of marketing channels in key countries, new markets, and new businesses. During the reporting period, the company's smart ultrasonic water meter factory in South Africa officially commenced operations. In the domestic market, continuously enhancing the competitiveness of products and services in State Grid and Southern Grid. In the State Grid's unified procurement of electricity metering products, the company won a bid of 140 million yuan; in the first batch of regional joint bidding for distribution networks, the total bid for integrated products was 149 million yuan. In the Southern Grid's unified procurement of distribution equipment products, the company won a bid of 38.46 million yuan; in the Inner Mongolia Power Group's marketing equipment bidding, it won a bid of 96.39 million yuan. In terms of new energy business, by accelerating the construction of local operating entities in key areas and the WMS warehousing and logistics digital system, the company focuses on building an efficient collaborative system for the global supply chain, promoting the penetration of new energy channel business in Europe, Asia, Africa, and Latin America. Maintain a "Buy" rating

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