研報掘金丨平安證券:維持福耀玻璃“推薦”評級,在汽車產業鏈擁有強話語權
平安證券研報指出,福耀玻璃(600660.SH)24年實現歸母淨利潤74.98億元(同比+33.20%),扣非歸母淨利潤74.46億元(同比+34.71%)。汽車玻璃單車配套量、均價持續提升。2025年公司安徽合肥工廠和福清出口基地投產將進一步助力公司強化區域配套能力。近年來合肥汽車產業處在高速發展階段,特別是新能源賽道更為突出,在合肥投建汽車玻璃項目將增強福耀與汽車廠商的合作黏性。汽車玻璃依然處於單車面積增加及單價提升的上升通道,福耀玻璃憑藉全球領導地位及強勁盈利能力持續受益汽車玻璃量價齊升紅利,福耀玻璃長期保持高比例分紅。憑藉高市場份額及汽玻行業的高護城河,福耀玻璃在汽車產業鏈擁有強話語權。維持公司“推薦”評級。
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