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研報掘金丨國聯證券:賽特新材真空玻璃第二曲線空間較大,維持“增持”評級
格隆匯8月10日丨國聯證券研報指出,賽特新材(688398.SH)上半年業績大幅增長,主要系主業真空絕熱板產銷量增長、原材料價格回落帶來的盈利能力提升所致。據產業在線,二季度我國冰箱銷量同比顯著增長,帶動公司真空絕熱板訂單需求增加。同時,部分原材料和天然氣價格回落致生產成本下降,公司盈利能力有所改善。公司革新生產技術,搭建高效連續真空玻璃封裝線,瞄準行業痛點降本增效提質,有望打開逾百億的商超冷櫃應用市場,未來隨着技術進一步完善和降本,樂觀情況下至2030年有望撬開近700億市場空間的建築節能應用場景。該行考慮到公司真空絕熱板業務前景向好,真空玻璃第二曲線空間較大,並參考可比公司估值,上調公司24年PE至25倍,對應目標價42.25元,維持“增持”評級。
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