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研報掘金丨開源證券:首予雲鋁股份“買入”評級,看好長期發展
格隆匯 10-19 15:11
開源證券研報指出,雲鋁股份(000807.SZ)是國內綠電鋁龍頭企業。隨着上半年雲南電力緊張形勢解除,公司電解鋁產能已於8月初實現滿產,疊加重熔鋁錠價格上行,電解鋁原料成本下行,預計2023H2公司業績將實現環比顯著改善。中長期來看,未來隨着雲南光伏建設持續推進,枯水期電力短缺情況預計將得到有效改善,公司限產產能釋放疊加供需缺口下鋁價抬升,同時集團內業務重組後公司鋁加工產品整體毛利率有望提升,預計未來公司業績將持續改善。此外,公司電力來源以水電為主,全球低碳發展趨勢下公司將有望持續受益於綠電鋁溢價能力。看好公司長期發展。首次覆蓋給予“買入”評級。
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