**Investment Highlights** **Hot Industries in Institutional Research** During the week of February 23-27, 2026, among primary industries, the sectors receiving the most institutional research visits, ranked from highest to lowest total number of visits, were Electronics, Machinery Equipment, Automobiles, and Light Industrial Manufacturing. Among these, the Electronics and Light Industrial Manufacturing sectors attracted a higher number of researching institutions over the past five days. Compared to the week before the Spring Festival, attention on the Electronics sector increased this week. Additionally, the number of institutions researching the Light Industrial Manufacturing sector rose, possibly indicating potential benefits from export recovery or expectations for domestic demand policies.
Over the past 30 days (January 28 - February 27, 2026), among primary industries, the sectors receiving the most institutional research visits, ranked from highest to lowest total number of visits, were Machinery Equipment, Electronics, Pharmaceuticals & Biotechnology, and Basic Chemicals. Among these, the Electronics and Machinery Equipment sectors attracted a higher number of researching institutions over the past month.
**Popular Companies in Institutional Research** Based on the number of research visits over the past 5 days, companies with a high number of visits and more than 10 institutional ratings include Yantai Jereh Oilfield Services Group Co.,Ltd., Yunnan Tin Co.,Ltd., and Boe Technology Group Co.,Ltd.. Ranked by the number of distinct institutions conducting research over the past 5 days, companies with many researching institutions and more than 10 institutional ratings include Yantai Jereh Oilfield Services Group Co.,Ltd., Yunnan Tin Co.,Ltd., Boe Technology Group Co.,Ltd., among others.
Looking at the past 30 days, ranked by the number of research visits, companies with high visit counts and more than 10 institutional ratings include Han'S Laser Technology Industry Group Co.,Ltd., Yantai Jereh Oilfield Services Group Co.,Ltd., and Bank Of Hangzhou Co.,Ltd.. Ranked by the number of distinct institutions researching over the past 30 days, companies with many researching institutions and more than 10 institutional ratings include Ninebot Limited, Jinko Solar Co.,Ltd., Zhongji Innolight Co.,Ltd., among others.
**Summary of Key Company Research** **Yantai Jereh Oilfield Services Group Co.,Ltd.** Recent research indicates the company is accelerating its transformation into a diversified technology-industrial group. Its core growth drivers have expanded beyond traditional oil and gas equipment to include gas turbine power generation. The company is focusing on three key areas: data centers, industrial energy, and new power systems, having secured orders exceeding 3.4 billion yuan for gas turbine generator sets in North America. Simultaneously, benefiting from the reshaping of the global natural gas supply landscape, its oil and gas engineering EPC projects in regions like the UAE and Kuwait continue to be implemented.
**Yunnan Tin Co.,Ltd.** Leveraging its globally leading reserves of tin and indium resources and its integrated industrial chain, the company achieved significant revenue and net profit growth in the first three quarters of 2025. It is strengthening its strategic metal resource security by deepening the potential of mining areas. Industry-wide, the global tin market shows a tight supply-demand balance, with supply constrained by policies and insufficient investment, while demand from emerging sectors like new energy and semiconductor packaging remains strong, providing long-term opportunities to solidify its leading position.
**Risk Warnings** Short-term market volatility risks, industry policy risks, and company operational risks.
**I. Hot Industries in Institutional Research** During the week of February 23-27, 2026, among primary industries, the sectors receiving the most institutional research visits, ranked from highest to lowest total number of visits, were Electronics, Machinery Equipment, Automobiles, and Light Industrial Manufacturing. Among these, the Electronics and Light Industrial Manufacturing sectors attracted a higher number of researching institutions over the past five days. Compared to the week before the Spring Festival, attention on the Electronics sector increased this week. Additionally, the number of institutions researching the Light Industrial Manufacturing sector rose, possibly indicating potential benefits from export recovery or expectations for domestic demand policies.
Over the past 30 days (January 28 - February 27, 2026), among primary industries, the sectors receiving the most institutional research visits, ranked from highest to lowest total number of visits, were Machinery Equipment, Electronics, Pharmaceuticals & Biotechnology, and Basic Chemicals. Among these, the Electronics and Machinery Equipment sectors attracted a higher number of researching institutions over the past month.
**II. Popular Companies in Institutional Research** Based on the number of research visits over the past 5 days, companies with a high number of visits and more than 10 institutional ratings include Yantai Jereh Oilfield Services Group Co.,Ltd., Yunnan Tin Co.,Ltd., and Boe Technology Group Co.,Ltd..
This week's research, ranked by the number of distinct institutions conducting research over the past 5 days, shows companies with many researching institutions and more than 10 institutional ratings include Yantai Jereh Oilfield Services Group Co.,Ltd., Yunnan Tin Co.,Ltd., Boe Technology Group Co.,Ltd., among others.
Looking at the past 30 days, ranked by the number of research visits, companies with high visit counts and more than 10 institutional ratings include Han'S Laser Technology Industry Group Co.,Ltd., Yantai Jereh Oilfield Services Group Co.,Ltd., Bank Of Hangzhou Co.,Ltd., among others.
Ranked by the number of distinct institutions researching over the past 30 days, companies with many researching institutions and more than 10 institutional ratings include Ninebot Limited, Jinko Solar Co.,Ltd., Zhongji Innolight Co.,Ltd., among others.
**III. Summary of This Week's Key Company Research** **1. Yantai Jereh Oilfield Services Group Co.,Ltd.** Founded in 1999 and listed on the Shenzhen Stock Exchange in 2010, with its headquarters in Yantai, Shandong Province, the company has transformed from a traditional oil and gas equipment manufacturer into an innovation-driven, diversified technology-industrial group. Its core business covers four segments:
* High-End Equipment Manufacturing: One of the few non-Western companies capable of providing complete fracking solutions to the North American shale gas market, with leading technology in electric drive fracking equipment and a domestic market share exceeding 50%. * Oil and Gas Engineering and Technical Services: Possesses full-chain EPC project delivery capabilities, having successfully implemented major overseas projects. It adheres to the principle of "profitable project orders and profitable cash flow." * New Energy and Power Solutions: Since 2025, it has accelerated its layout in the gas turbine power generation business, establishing stable partnerships with international manufacturers. Its products cover various models, focusing on three key tracks: data centers, industrial energy, and new power systems. It has secured four orders from North America for gas turbine generator sets, totaling over 3.4 billion yuan, for powering high-reliability, low-emission computing infrastructure. * Global Layout: Completed capacity expansion in the US and is establishing new production and office bases in Dubai, UAE, building a supply chain system with "R&D in China, local manufacturing, and overseas services," continuously increasing the proportion of overseas business.
This week's research primarily focused on the company's three business directions. (1) Power Generation Business: The company明确 will deeply cultivate three tracks: data centers, industrial energy, and new power systems, building integrated solutions covering power generation, energy storage, power distribution, and thermal management to strengthen high-reliability power support capabilities. It has established long-term partnerships for gas turbines, with products covering various models and possessing the capability to develop 35MW-class mobile gas turbine generator sets. (2) Natural Gas Business: Benefiting from the reshaping of the global natural gas supply pattern and the low-carbon transition, the company continues to secure EPC projects in markets such as the UAE, Kuwait, Uzbekistan, Algeria, and Brunei, having formed full-industry-chain integrated solution capabilities. (3) Capacity Layout: Completed assembly capacity construction in North America; a new production and office base in Dubai, UAE, is progressing as planned; domestic and overseas capacities will be dynamically coordinated based on orders.
**2. Yunnan Tin Co.,Ltd.** As the only A-share listed company with a fully integrated tin industrial chain, its predecessor dates back to 1883. It possesses over 140 years of industry experience and is a global leader in the tin industry. The company holds the world's largest reserves of tin and indium resources. It has substantial annual production capacities for tin smelting, cathode copper, zinc smelting, and indium smelting. Its tin product sales have ranked first globally since 2005, with a global market share of 25% in 2024. Its integrated chain covers exploration, mining, mineral processing, smelting, deep processing, and trade. Core products include tin ingots, cathode copper, zinc ingots, and indium ingots, with applications in high-end manufacturing fields like semiconductor packaging and AI chips. Its "YT" brand is internationally recognized.
This week's research primarily focused on the company's operating results, resource strategy, and industry landscape. (1) Performance: For the first three quarters of 2025, operating revenue reached 34.417 billion yuan, a year-on-year increase of 17.81%; net profit attributable to shareholders was 1.745 billion yuan, a year-on-year increase of 35.99%. The company distributed a cash dividend of 181 million yuan to all shareholders in January 2026, marking the second consecutive year of pre-Spring Festival dividends. (2) Resource Strategy: The company highly values resource security, continuously promoting geological research, deep and peripheral prospecting, and resource upgrading, coordinating regional mine construction to improve mining and processing synergy, and strengthening long-term resource reserves for strategic metals like tin and indium. (3) Indium Business Advantage: The company possesses the world's largest primary indium resource reserves. In the first three quarters of 2025, it produced 101.62 tons of indium metal, with rising indium prices significantly contributing positively to performance. (4) Industry Outlook: The global tin market exhibits a pattern of "tight supply-demand balance + structural disruptions." Supply is affected by policy tightening in Southeast Asia, insufficient exploration investment, and environmental constraints, limiting new capacity. Demand benefits from the expansion of emerging areas like new energy, AI, and semiconductor packaging, showing strong medium to long-term momentum.
**IV. Risk Warnings** Short-term market volatility risks Industry policy risks Company operational risks
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