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研報掘金丨信達證券:大元泵業Q2收入增長亮眼,維持“買入”評級
格隆匯 08-04 15:12
格隆匯8月4日丨信達證券研報指出,大元泵業(603757.SH)Q2收入增長亮眼,各版塊均實現穩健提升。經測算,預計第二季度實現扣非後歸母淨利潤1.04億元,同比+46.95%,體現強勁的增長實力。家用屏蔽泵板塊中,國內壁掛爐及煤改電項目在2022年低基數上覆蘇明顯,同時在新市場的開拓有顯著進展,對公司營收和利潤兩端都有較好貢獻。展望後續,公司認為在家用節能泵方面,下游應用場景有不斷拓展的趨勢,同時公司產品在產業需求中所佔的份額仍然較低,未來仍然有廣闊的提升空間;民用泵方面,下半年恢復速度有望繼續提升,同時商用泵及新能源液冷泵產品和項目持續推進,整體發展態勢向好較為明確。該行預計公司23-25年營業收入分別為21.08/26.24/32.47億元,分別同比+25.6%/+24.5%/+23.7%;歸母淨利潤3.49/4.51/5.86億元,分別同比+34.0%/+29.1%/+30.0%, 對應PE為12.82/9.93/7.64倍。維持“買入”評級。
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