《大行報告》海通國際下調信義光能(00968.HK)目標價至8.92元 評級「優於大市」
海通國際發表報告指出,信義光能(00968.HK)上半年業績遜預期,收入按年增長24.8%至121.87億元,惟純利減少26.9%至13.92億元,顯示收入增長並未轉化為盈利增長,主要由於光伏玻璃業務盈利能力下降,以及光伏電站盈利貢獻減少。
該行下調信義光能2023至2025年的盈利預測,料純利分別為41.1億、54.4億及70.1億元,攤薄每股盈利預測各為0.46、0.61及0.79元。該行認為,目前光伏玻璃產業處於周期性低位,但隨著原材料和天然氣成本回歸正常區間,預計今年下半年公司盈利能力有望改善。
然而,該行預期由於2023財年產業持續供過於求,相信行業業績反彈有限。此外,考慮到光伏產業的估值下調,該行將公司目標價由12.6元下調至8.92元,維持「優於大市」評級,並認為公司的光伏電站建設成本大幅下降,下半年建設進度將加快;公司對光伏玻璃產能擴張目標維持不變,有望推動出貨量及市場份額擴長。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.