Pacific: Initiates "Buy" rating for Lanpec, with expected continuous improvement in subsequent profits

According to a research report by Pacific Securities, Lanpec is expected to achieve a net profit attributable to shareholders of 20.9518 million yuan in the first half of 2025, turning a profit compared to the same period last year, with subsequent profits expected to continue improving. The company is actively expanding into emerging markets and fields such as hydrogen energy, solar thermal energy storage, coal chemical industry, fine chemicals, and new materials, aiming to become a comprehensive solution provider offering excellent quality to customers. It has now established three major business segments: products, engineering, and services. Additionally, with the acquisition and changes in the controlling shareholder, the company is expected to integrate resources with Sumec, further expanding the market. The outlook is positive for the company's resource integration after the change of controlling shareholder and asset injection, with subsequent profits expected to continue improving. This is the first coverage, and a "Buy" rating is given