Q1賺了15億！600億光模塊大牛股高增長持續，股價爆拉
股價跌跌不休之際，新易盛發佈了一份亮眼財報。
今日，新易盛股價盤中爆拉，最新升超11%，報90.17元/股，總市值639.1億元。
業績持續高增長
今年一季度，新易盛實現營收40.52億元，同比增長264.13%；歸母淨利潤為15.73億元，同比增長384.54%；扣非淨利潤為15.69億元，同比增長383.1%。
去年，新易盛實現營收86.47億元，同比增長179.15%；淨利潤為28.38億元，同比增長312.26%；扣非淨利潤為28.3億元，同比增長317.59%。
這也意味着，新易盛僅在今年一季度就賺到了去年半年能賺到的錢。
值得注意的是，近年來，新易盛的業績保持高增長。
2020年-2023年，新易盛的淨利潤分別為4.92億元、6.62億元、9.04億元、6.88億元，同比131.03%、34.6%、36.51%、-23.82%。
分紅上，新易盛2024年擬向全體股東每10股派4.5元，合計派發3.19億元，同時每10股轉增4股。
市場在擔憂什麼？
新易盛主要從事高性能光模塊的研發、生產和銷售，產品用於人工智能/機器學習集羣、雲數據中心、數據通信、5G 無線網絡、電信傳輸、固網接入等領域。
新易盛為雲數據中心客户提供100G、200G、400G、800G及1.6T光模塊產品，為電信設備商客户提供5G前傳、中傳和回傳光模塊、以及應用於城域網、骨幹網和核心網傳輸的光模塊解決方案。
作為光模塊龍頭，新易盛曾是備受資金追捧的十倍大牛股。
公司股價從2023年年初開始啟動，並於2024年10月見頂，一度從最低的16.58元/股升到了160.2元股，升幅將近10倍。
隨後，新易盛的股價就震盪回調，一度“腰斬”，最低觸及65.64元/股。
分析來看，特朗普高關税下，市場擔憂新易盛的盈利情況會受到影響。
新易盛的主要收入來源在境外，去年國外收入為68.05億元，佔營收的比重高達78.7%。
對此，新易盛有望通過泰國擴產應對，目前從泰國出貨是零關税。
在2024年的財報中，新易盛透露，泰國工廠二期建築工程基本完成，預計2025年正式投入運營。
展望未來，國金證券認為，新易盛業績持續快速增長，LPO、AEC等新型光模塊放量有望帶動公司業績與盈利能力提升.
國金證券預計，新易盛2025-2027年的營業收入為172.34/234.19/297.3億元，歸母淨利潤為53.91/71.60/91.90億元，對應PE為11/8/6倍，維持“買入”評級。
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