研報掘金丨華源證券:首予華大智造“買入”評級,產品力處於全球領先地位
華源證券研報指出,華大智造(688114.SH)是少數具備測序儀核心技術、並實現商業化的國產品牌,產品力處於全球領先地位。2025年3月,商務部將illumina 列入實體清單後,進一步限制其國內市場測序設備的銷售,相應市場份額有望被國產優秀產品替代。基於DCS生態圈的構建和發展,24H1公司科研客戶成交數量同比增長超過70%,覆蓋醫院數量同比增長16.09%,累計合作用戶超940家,與合作夥伴共同促進測序應用發展。E25 Flash系統,融合各類AI 工具,在生化原材料和鹼基算法上實現雙重提升,測序速度與效率推向全新高度。測序、自動化兩大核心業務,相繼通過AI賦能,長期發展空間有望打開。選取邁瑞醫療、聯影醫療、惠泰醫療作爲可比公司,基於公司測序業務產品力處於全球領先水平,國內外市佔率快速提升,首次覆蓋,給予“買入”評級。
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