研報掘金丨國聯民生:維持恆立液壓“買入”評級,海外市場持續放量
國聯民生證券研報指出,恆立液壓(601100.SH)24年實現歸母淨利潤25.09億元,同比增長0.4%。2025Q1實現歸母淨利潤6.18億元,同比增長2.61%。主營業務收入實現增長,海外市場持續放量。2024年工程機械行業景氣度仍處於週期底部,同時公司爲海外產能建設和電動化業務佈局持續進行大幅資本開支,使公司業績承壓,但公司下遊非挖領域多元化產品有望貢獻新增量,考慮到國內工程機械行業景氣度有望逐步回暖;多元化產品及海外業務帶來新需求,維持“買入”評級。
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