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研報掘金丨方正證券:維持揚傑科技“強烈推薦”評級,員工持股計劃彰顯增長信心

方正證券研報指出,揚傑科技(300373.SZ)員工持股計劃彰顯增長信心,考覈要求27年營收不低於100億元或淨利潤不低於15億元。揚傑科技堅持雙品牌運營戰略,在二極管/整流橋領域形成“護城河”,成爲該產品領域全球領先企業,對標國際第一梯隊公司,同時基於穩定的盈利能力基礎上,不斷開拓車載中低壓功率器件,規模化效應持續凸顯。公司半導體硅材料、晶圓和功率器件三大板塊協同發展,持續深化雙品牌運作和海外戰略佈局,員工持股計劃彰顯增長信心。預計公司2025-2027年營收分別爲70.18/83.21/100.20億元,歸母淨利潤分別爲12.28/14.47/17.02億元。維持“強烈推薦”評級。

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