Open Securities: Maintains "Buy" rating on Anke Innovation, optimistic about the growth of the balcony energy storage market in Europe.

Open-source securities research reports pointed out that under the driving factors of policies and other factors, since the beginning of this year, Anchor Innovation has continued to see strong growth in the balcony energy storage markets in countries such as Germany, the Netherlands, and Belgium, as well as in the household energy storage market in Australia. With the subsequent release of balcony energy storage policies in countries such as the UK and Switzerland, the outlook for the growth of the balcony energy storage market in Europe is positive. Meanwhile, the improvement in the penetration rate of household energy storage without solar panels in core regions is expected to drive growth in residential side storage. The company's balcony energy storage products and channel advantages are obvious, and the household energy storage channels have made breakthroughs in the Australian region. Additionally, the introduction of AC energy storage for households without solar panels is expected to drive overall growth in the energy storage business. Maintaining profit forecasts, it is expected that the net profit attributable to the parent from 2026 to 2028 will be 3.048 billion, 3.825 billion, and 4.605 billion yuan respectively, corresponding to EPS of 5.69, 7.13, and 8.59 yuan. The current stock price corresponds to a PE ratio of 19.7, 15.7, and 13.0 times, maintaining a "buy" rating.