研報掘金丨海通證券:中國廣核23年業績穩健增長,首予“優於大市”評級
海通證券研報指出,中國廣核(003816.SZ)23年業績穩健增長,公司實現營收825.49億元,YOY-0.33%;實現歸母淨利潤107.25億元, YOY+7.64%,未來持續看好。公司於2016年開工建設的防城港4號核電機組(公司持股61%,裝機容量118萬千瓦)預計於2024年上半年投產,新老機組一起貢獻增量發電,24業績彈性有望得到釋放。該行認為公司作為核電龍頭公司,考慮到市值管理納入考核可能帶來的公司管理優化等因素,疊加明確的資產注入預期提供長期成長性,參考可比公司24年PE,給予公司2024年19-20倍PE,對應合理價值區間4.56~4.8元/股,首次覆蓋給予“優於大市”評級。
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