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研報掘金丨天風證券:福萊特Q4業績略超預期,維持“增持”評級

天風證券研報指出,2.0mm玻璃價格下滑較大,福萊特(601865.SH)23年盈利水平同比微降,Q4業績略超預期。公司目前擁有產能20600t/d,將繼續擴大產能,全球佈局,預計在印度尼西亞投資建設光伏玻璃窯爐。根據現有產能規劃,預計24年末名義產能有望達30200噸/天。作為行業龍頭,公司成本優勢顯著,中長期看,隨擴產營收快速放量,費用端或還有一定規模效應提升空間。考慮到目前光伏玻璃價格上升,上調此前預期,預計24-26年歸母淨利潤40/49/57億元(前值24-25年38/42億元),維持“增持”評級。

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