研報掘金丨華安證券:維持昊華科技“買入”評級,發行股份購買資產獲批覆
華安證券研報指出,昊華科技(600378.SH)發行股份購買資產獲批覆,打造全球氟化工綜合企業。認為公司研發底藴深厚,已成為明顯的研發創新驅動的平台型材料公司,選擇賽道持續高增長,同時聚焦高端化、差異化,產品結構持續優化,週期性減弱。“十四五”期間公司資本開支加快,公司進入高速成長期。新增重點項目有2.6 萬噸/年高性能有機氟材料項目(其中1.85 萬噸高端PTFE 樹脂)、西南電子特氣項目、黎明院退城入園項目等。密集的資本開支增加持續驅動公司盈利增長。基於審慎性原則,暫未考慮中化藍天併入報表,暫未考慮此次募投項目,維持“買入”評級。
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