研報掘金丨光大證券:維持深南電路“買入”評級,認為AI有望助力公司長期成長
光大證券研報指出,深南電路(002916.SZ)24年實現歸母淨利潤18.78億元,同比增長34.29%。2024年公司印製電路板業務實現主營業務收入104.94億元,同比增長29.99%,佔公司營業總收入比例為58.60%。公司在通信領域把握行業結構性機會,實現產品結構優化。公司在數據中心領域受益於 AI 服務器相關需求增長及行業週期性回暖,業務規模明顯增長。2024 年公司數據中心領域訂單同比取得顯著增長,成為PCB業務繼通信領域後第二個達20億元級訂單規模的下游市場。數據中心領域,公司重點把握算力需求帶來的相關機會,爭取了更多的優質項目,改善盈利能力;汽車電子領域,公司持續強化專業產品線競爭力建設,受益客户合作深度增加及需求放量,帶動汽車相關營收穩步增長。根據公司公吿,2024年公司緊抓AI技術發展帶動的算力與高速網絡通信需求增長,以及通用服務器市場需求修復等機遇,推動產品結構進一步優化。認為AI有望助力公司長期成長,維持“買入”評級。
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