研報掘金丨東方證券:維持西部超導“買入”評級,超導材料業務全球領先
東方證券研報指出,西部超導(688122.SH)超導材料業務全球領先,多項目實現批量供貨。公司參與了EAST 裝置超導磁體饋線系統性能升級,爲項目提供高性能低溫超導線材,有力支撐了EAST 裝置千秒級穩態高參數運行模式新世界記錄的突破,對我國自主建設聚變工程堆具有重要意義;24 年來看,公司完成了國內核聚變 CRAFT 項目用超導線材的交付任務,並開始爲 BEST 聚變項目批量供貨;同時積極推進高溫超導材料的研發和生產,發明了分步法合成元素摻雜粉末、芯部增強導體結構,製出長度達到百米量級的帶材和線材,爲相關應用領域積累了高溫超導材料基礎;MRI 用超導線材中,公司擁有全球唯一鈮鈦錠棒、超導線材、超導磁體的全流程生產線,具有較強超導產品影響力。高性能高溫合金技術創新實現多項關鍵突破,高端鈦合金市場不斷拓展。參考可比公司25年估值水平,對應25年42倍PE,目標價67.20元,維持“買入”評級。
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