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研報掘金丨山西證券:中科曙光盈利能力顯著提升,維持“買入-A”評級
格隆匯 03-12 15:01

山西證券研報指出,產品結構及產銷管理優化推動中科曙光(603019.SH)盈利能力顯著提升。2024年公司收入有所承壓,主要是因為公司開始重新規劃產品定位,逐步減少低毛利的項目。隨着公司將資源向高附加值產品和服務的研發和推廣上傾斜並優化產銷管理模式以提升運營效率,2024年公司毛利率進一步提高至29.16%,較上年同期增加2.90個百分點。2024年公司期間費用率保持穩定。隨着DeepAI深算智能引擎、DeepSeek一體機等軟硬件產品陸續發佈,公司開始加速AI 生態佈局。隨着AI生態全面佈局加速,公司作為國產算力領軍的地位將更加穩固,維持“買入-A”評級。

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