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研報掘金丨海通證券:予TCL中環“優於大市”評級,硅片市佔率全球領先
海通證券研報指出,至2023年末,TCL中環(002129.SZ)晶體產能達183GW,光伏材料業務板塊進一步擴大相對競爭力,鞏固市場地位。根據《 TCL中環2023年度及2024年一季度業績説明會》,在24Q2的時候,公司拉單晶每千克的生產成本有望相較Q1或者23年年末有接近20%的下降。公司將繼續強化N型Total Solution能力,提升大尺寸、N型產品佔比與市佔率。該行認為,公司硅片市佔率全球第一的企業,同時向下遊領域延伸,參考可比公司24年的估值水平,給予公司24年30-32倍PE估值,對應合理價值區間為12.72-13.57元,給予“優於大市”評級。
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