研報掘金丨國金證券:首予愛旭股份“買入”評級,目標價20.76元
國金證券研報指出,愛旭股份(600732.SH)深耕電池片環節超15年,歷經行業兩輪技術迭代,P型時代,2016年發明管式PERC技術,2019-2023年電池片出貨量穩居全球第二;N型時代,2021年創新研發ABC(All Back Contact)技術,2022年全球首家推出ABC組件,2024H1公司ABC組件銷售1.62GW,較2023全年銷量大幅增長232%,預計2024Q4出貨量環比增長100%以上,2025年出貨規劃約20GW。公司作為當前市場唯二具備規模化BC產能和成熟量產技術的企業,隨着高轉換效率組件產品需求提升,公司ABC業務有望率先受益,給予26年23倍PE估值,目標價20.76元,首次覆蓋,給予“買入”評級。
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