研報掘金丨中信建投:維持中微公司“買入”評級,在手訂單維持較好水平
中信建投證券研報指出,2024年中微公司(688012.SH)營收增長45%,實現高速增長,薄膜沉積設備實現首台銷售;歸母淨利潤同比下降10%,主要系公司給予部分客户銷售折扣、研發費用大幅提升、股權處置收益減少影響。2025Q1公司營收增長35%,維持高增,歸母淨利潤增長26%,低於營收增速,主要系研發費用大幅提升影響。公司存貨、合同負債維持較好增長,説明在手訂單維持較好水平。公司積極推進平台化佈局,刻蝕設備競爭力不斷增強,薄膜沉積設備多款設備進展迅速,並規劃覆蓋多種量檢測設備產品,未來值得期待。維持“買入”評級。
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