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港股異動 | 福萊特玻璃漲6% 首季營收同比增長70.6%
格隆匯4月28日丨福萊特玻璃(6865.HK)漲6.76%,報27.65港元;A股福萊特(601865.SH)漲6.72%,報39.57元,總市值850億港元。福萊特玻璃27日公佈今年首季業績,首季未經審計的營業收入達35.09億元,按年增長70.6%;期內股東應占淨利潤接近4.37億元,按年下跌47.9%。公司表示,首季營業收入上升,主要是因光伏玻璃銷售數量的大幅增長所致,而部分增長被光伏玻璃平均銷售價格下降所抵銷。而淨利潤下跌,同樣是因為光伏玻璃平均銷售價格大幅下降所致。廣發證券發研報指,22Q1行業景氣度承壓,公司21Q1 高基數疊加22Q1景氣度觸底,公司在收入同比增70.6%(產能釋放驅動)情況下淨利同比減47.9%,實現以“量”補“價”,仍然實現12.45%的淨利率,以及14.5%的年化ROE,背後原因是公司持續拓寬的低成本優勢護城河。今年庫存壓力邊際改善,關注行業供給釋放節奏。公司A股合理價值56.8元/股,考慮A/H股溢價因素,對應H股合理價值為39.7 港元/股,給予“買入”評級。

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