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研報掘金丨長江證券:三安光電Q2營收逐步向上,存貨結構持續改善,予“買入”評級

長江證券研報指出,上半年下游需求逐步復甦,助推三安光電(600703.SH)實現營業收入76.79億元,同比+18.70%,實現歸母淨利潤1.84億元,同比+8.44%;其中2024Q2公司實現營業收入41.22億元,同比+15.74%,環比+15.89%,收入逐步向上。值得重視的是,2024H期末公司存貨淨值較期初減少1.22億元,其中LED存貨淨值減少1.78億元,集成電路存貨淨值增加0.56億元,公司庫存水位持續下降,存貨結構持續改善。此外,湖南三安與理想汽車成立的合資公司蘇州斯科半導體一期產線實現通線,全橋功率模塊C樣已交付,預計將在2024年下半年完成產品驗證,2025年有望迎來模塊批量生產。給予公司“買入”評級。

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