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研報掘金丨華福證券:首予聯影醫療“持有”評級 海外+重磅新品+AI第二增長極
格隆匯 03-25 17:15

華福證券研報指出,聯影醫療(688271.SH)高研發重創新,全產業鏈核心技術自主可控,以“聯影速度”“聯影質量”重塑GPS 高端格局,邁向全球,海外市場營銷、服務、物流體系生態搭建逐步成熟,推動全球市佔加速突破。24Q4起陸續大規模以舊換新落地,當前招投標數據或彰顯訂單向上趨勢。考慮政策延續性,25年在24年低基數下增長潛力大。海外營銷、服務、物流體系搭建逐步完善,24Q1-3海外營收14億元(同比+36.5%),歐美加深高端醫院及科研機構滲透率,亞太東南亞市場加速落地,新興市場中東、拉美、非洲地區等均為業績增長提供有力支撐。公司持續首創推出,首款人體全身磁共振uMR Jupiter 5T於2022年國內上市,2024年歐美獲證,行業高認可、贏單能力強考慮到公司龍頭地位,海外+重磅新品+AI第二增長極,賦予一定估值溢價,首次覆蓋,給予“持有”評級。

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