研報掘金丨國聯民生:山東高速業績保持穩健增長,維持“買入”評級
國聯民生證券研報指出,山東高速(600350.SH)2025年一季報實現歸母淨利潤8.07億元,同比增長4.85%。截至2025Q1,京台高速齊濟段改擴建工程累計投資61.78億元,路基和路面工程分別完成91%、75%;濰萊高速改擴建工程累計投資1.53億元,項目完成主體工程施工、監理開標評審工作;G220東深線東營南王村至濱州界段改擴建工程累計投資4.06億元,項目已進入施工準備工作。考慮到濟菏高速於2024年底恢復通車,預計公司2025-2027年營業收入分別為278.32/281.75/286.16億元,同比增速分別為-2.32%/1.23%/1.57%;公司核心路橋資產均為山東省高速公路網的中樞幹線,路網完善,維持“買入”評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.