研報掘金丨中金:維持中國巨石“跑贏行業”評級,2025年部分產品存在提價預期
中金公司研報指出,近日,中國巨石(600176.SH)控股股東和持股5%以上股東振石集團先後發佈增持計劃,分別擬增持公司股份,兩家均公吿自己的增持金額將不低於5億元、不超過10億元,充分彰顯公司股東對其發展信心。展望2025年,判斷:①玻纖行業供需相對平衡,提價機會集中在結構性產品,如風電紗、熱塑短切。樂觀情形下,提價產品佔巨石銷量比例或達40%~50%;②海外長協訂單亦有提價機會。認為中國巨石的競爭力已從單一的“成本優勢”向更為全面的“產品力”、“海外供應力”過渡,成功路徑更難被競爭對手複製。考慮到公司2025年部分產品存在提價預期,上調目標價11%至13.6元,維持跑贏行業評級。
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