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研報掘金丨申萬宏源:海光信息業績高增符合預期,維持“買入”評級
格隆匯 03-20 14:16

申萬宏源研究指出,海光信息(688041.SH)24年實現歸母淨利19.31億元,同比+52.87%,業績與此前預告一致,符合市場預期。預計CPU在通信、金融等行業需求旺盛。根據公司年報,海光CPU產品在國產處理器中具有非常廣泛的通用性和產業生態,大規模應用於電信、金融、互聯網等行業。考慮到公司CPU產品在金融等信創市場加速出貨,以及大模型帶來的DCU需求大幅提升,上調2025-2026年收入預測爲135.82、175.30億元。基於海光已驗證自我迭代能力,CPU/DCU性能與海外巨頭可比,充分受益於國產服務器替換機會,維持“買入”評級。

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