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研報掘金|國泰君安:予中聯重科“增持”評級 目標價7.98港元
國泰君安發佈研究報吿稱,予中聯重科“增持”評級,2023年國內工程機械行業持續築底,作為工程機械龍頭企業,積極佈局海外市場,產品深受海外市場認可,預計2023-2025年的淨利潤(歸母)為3698/4869/6073百萬元,每股盈利分別為0.43/0.56/0.7元,目標價7.98港元。公司作為工程機械龍頭企業,海外市場佈局順利,引領行業數字化、新能源化創新,隨國內工程機械行業復甦,業績有望快速釋放。研報指,2023H1公司實現海外營收83.7億元/同比+115.4%,海外應收佔比達34.8%/+16.5pct。公司海外收入增速高於行業,據海關總署數據統計,2023H1中國出口工程機械總額達1760.95億元/同比+32.3%。公司在印尼、中東、非洲、歐洲等市場積極佈局,建立本地化營銷網絡,看好公司未來海外應收水平持續增長。同時海外市場利潤水平高於國內,帶動公司業績加速成長。
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