Citic Securities: First Give Pinghui Energy a "Buy" Rating, Firmly Layout Energy Storage Will Achieve Results

CICC recently pointed out in a research report that Penghui Energy was established in 2001, starting with the consumer battery business. In 2019, the company made a major decision and clearly defined energy storage as its core strategic business. The company has experienced ups and downs and is a long-term thinker. Even during the adjustment period of the energy storage industry, the company has always been inclined towards energy storage for the long term. With the overall improvement in energy storage demand, the company's firm layout in energy storage will bring rewards, and the development trend is likely to take another step forward. First coverage, "Buy" rating given.