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《大行報告》大華繼顯削信義光能(00968.HK)目標價至5.5元 業績符預期
阿思達克 03-01 11:00
大華繼顯發表研究報告指,信義光能(00968.HK)去年度盈利錄41.871億元,達到該行全年預測的約95%,但較市場普遍預期高出9%,整體業績表現符合預期。 報告指出,在光伏組件安裝熱潮及公司產能擴張推動下,去年全年光伏玻璃銷量按年增長49.3%,但產品平均售價下降,以及原料與能源成本上升,導致期內光伏玻璃業務毛利率按年下跌2.4個百分點至21.4%。 大華繼顯表示,考慮到國內光伏玻璃價格或下降,相應將2024及2025財年盈利預測下調17%及11%,目標價由10.2元下調至5.5元。 該行指,由於新建光伏玻璃生產廠房需要得到審批,有助減慢行業產能擴張的步伐,令信義光能等行業領導者得以鞏固其市場領先地位,維持對信義光能的「買入」評級。
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