研報掘金丨中銀證券:華魯恆升發展空間廣闊,維持“買入”評級
中銀證券研報指出,華魯恆升(600426.SH)24年歸母淨利潤39.03億元,同比增長9.14%,其中,第四季度歸母淨利潤8.54億元,同比增長31.61%。2024年公司經營活動現金流淨額爲49.68億元人民幣,同比增長5.36%,資產負債率爲29.64%,同比降低1.26 pct。公司業績韌性凸顯,行業競爭力進一步鞏固。截至2024年年末,公司在建工程合計餘額48.31億元,同比增加50.95%。公司在建項目協同推進,發展動能再增厚,未來成長空間廣闊。基於化工行業受產能過剩、需求偏弱、同質競爭加劇等因素影響,景氣度偏弱,調整盈利預測,公司經營業績穩中有進,行業競爭力持續鞏固,在建項目協同推進,發展空間廣闊,維持“買入”評級。
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