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研報掘金丨財通證券:首予盛科通信“增持”評級,交換芯片產業前景廣闊
格隆匯 03-10 17:03
財通證券研報指出,盛科通信(688702.SH)為國內領先的以太網交換芯片設計企業。交換機是數據中心重要組成部分,AI集羣中需要實現GPU 間高速數據傳遞,對交換機的性能和數量需求更高,驅動全球交換芯片市場快速增長。根據公司招股説明書,2020年全球以太網交換芯片市場規模為368億元。而根據Lightcounting預測,到2027年僅雲數據中心交換機芯片的市場規模將達到70億美元以上。交換芯片產業前景廣闊,國產替代空間巨大。公司客户包括新華三、鋭捷等頭部交換機廠商,新品逐步導入客户,有望貢獻重要收入增量。首次覆蓋,給予“增持”評級。
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