You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
研報掘金丨中金:晶盛機電全年業績高增符合預期,維持“跑贏行業”評級
格隆匯 04-15 17:26

中金公司研報指出,晶盛機電(300316.SH)23年歸母淨利潤45.58億元,同比+55.9%(預吿同比+50%-70%),全年業績高增符合預期。公司設備在手訂單較為飽滿,優質坩堝仍具稀缺性。判斷2024年坩堝價格有望維持在~3.5萬元/個(含税),支撐較高的盈利能力;同時,公司持續推動碳/鎢絲金剛線和碳化硅襯底片(尤其8英寸)的產能釋放。公司持續從光伏延伸至半導體產業鏈,卡位大硅片設備、先進製程設備、零部件等環節,佈局逐步完善,同時重視第三代半導體發展機遇,重點佈局碳化硅襯底材料+外延設備,8英寸技術領先,預計公司24/25年碳化硅襯底產能有望突破1/2萬片/月。維持跑贏行業評級,但由於行業估值中樞下行,下調目標價20.4%至43.00元對應10.1倍2024年市盈率和8.5倍2025年市盈率,較當前股價有36.2%的上行空間。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account