研報掘金丨國金證券:首予匯川技術“買入”評級,目標價81.1元
國金證券研報指出,匯川技術(300124.SZ)是國內少數實現“工控→新能源車→機器人”跨行業技術複用的機電一體化平臺型企業,在行業具備持續超越週期的α,2007-2024年營收和歸母淨利潤年化複合增速分別爲38%和30%,超過工業自動化行業和可比公司增速。24年公司新能源汽車實現營收160億元,同比+70%,隨着新產能投產,規模效應有望進一步釋放經營彈性,預計25-27年公司新能源車業務營收CAGR超30%。考慮到公司憑藉“技術複用+戰略卡位+組織變革”構建了持續穿越週期的競爭力,給予公司25年40倍PE估值,對應目標價81.10元/股,首次覆蓋給予“買入”評級。
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