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研報掘金丨方正證券:首予東鵬控股“推薦”評級,建陶龍頭蓄勢待發
格隆匯 12-11 15:42
方正證券研報指出,東鵬控股(003012.SZ)是建築陶瓷龍頭企業,瓷磚貢獻主要業績。024H1瓷磚、衞浴及其他主營業務營收佔比分別為83.34%、14.12%和2.55%,毛利佔比分別為87.1%、10.0%和2.9%。公司2024年前三季度銷售毛利率為31.23%,繼續保持較高水平。建築陶瓷行業走向集中,公司市佔率不斷提升。公司營銷網絡遍佈全國,具備零售和工程雙渠道優勢,更容易觸達用户以及對用户快速響應。另外,公司持續回購股份,提振市場信心。首次覆蓋,給予“推薦”評級。
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