深度报告-20230731-天风证券-长久物流-603569.SH-汽车物流供应链综合服务商_渠道为王入局电池回收赛道__31页_4mb

Longchuan Logistics (603569) is a leading third-party automotive logistics provider in China, listed on the A-share market since 2016. The company has expanded into battery recycling for electric vehicles, particularly targeting the growing demand in动力电池回收, with a focus on second-life applications like energy storage. Key developments include the acquisition of Digitallion New Energy in 2023, which enhances its capabilities in reverse logistics and gradient utilization.

The global push for sustainable practices and policies, such as those on battery recycling management, create favorable conditions. Market projections indicate high growth in battery recycling, with estimated退役量 reaching 5.5 terawatt-hours by 2030, driven by booming electric vehicle adoption and resource scarcity. Longchuan's advantages include its extensive logistics network, channel strengths from automotive logistics, and partnerships with industry players.

The firm provides an investment rating of "Buy" with a 6-month target price of 15 yuan, underpinned by expected revenue and profit growth from diversified business segments. Major risks include dependence on the automotive market, international uncertainties, challenges in new business areas like battery recycling, and potential deviations in financial forecasts.

For further details on risks, financial data, and valuations, please refer to the full report.