Cathay Securities and Haitong Securities: Maintain "Buy" rating on HIMILE SCIENCE AND TECHNOLOGY, target price 65.65 yuan

CITIC Securities research report points out that HIMILE SCIENCE AND TECHNOLOGY's core businesses of tire molds, large mechanical components, and machine tools are maintaining steady development, while electric heating vulcanizers are further opening up growth space. Based on the PE valuation of comparable companies, a 22.80 times PE is given for the company in 2025, corresponding to a target price of 65.65 yuan, maintaining an "overweight" rating. The company's new product, the electric heating vulcanizer, has achieved a breakthrough from small-scale application to mass production, winning bids for projects from Guizhou Tire and Wanli Tire, with a total amount of 135 million yuan, marking further market and customer recognition of the company's electric heating vulcanizer. The company has been deeply engaged in electric heating vulcanizers for many years, and this business is expected to double by 2025