研報掘金丨中郵證券:維持安琪酵母“買入”評級,25年業績彈性值得期待
中郵證券研報指出,安琪酵母(600298.SH)憑藉技術壁壘和全球化佈局穩居行業第一梯隊。公司是全球最大的YE 供應商和第二大酵母供應商,公司擁有技術和產能壁壘,持續高研發投入支撐高附加值產品開發,同時公司擁有國內外16個酵母工廠,在國內市場佔比55%,在全球佔比超過19%,酵母系列產品規模已居全球第二,具備顯著的規模優勢。安琪酵母長期邏輯(行業增長+海外全球化佈局)與短期催化(成本紅利+產品升級)形成共振,2025年業績彈性值得期待。維持“買入”評級。
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