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研報掘金丨信達證券:建議關注業績向好的流程工業板塊,看好綠田機械估值修復

信達證券研報指出,5月PMI環比回升,製造業投資有所回落。2025年5月我國製造業PMI為49.5%,環比回升0.5pct。1-5月我國製造業固定資產投資完成額同比增長8.5%,較1-4月回落0.3pct。建議關注業績向好的流程工業板塊(中泰股份、福斯達、海陸重工),及績優且具備獨立邏輯的個股:1)驕成超聲:公司聚焦超聲波設備與整體解決方案,2025年一季度實現歸母淨利潤2363萬元,同比增長2152.47%。認為公司新能源領域在鋰電行業擴產背景下的業務回暖,和線束連接器、半導體等領域放量有望帶來業績彈性。2)徵和工業:公司從事各類鏈傳動系統的研發、製造和銷售,包括車輛鏈、農機鏈、工業設備鏈。公司研發微型鏈系統項目,重點攻關機器人靈巧手傳動技術,未來有望受益人形機器人量產。3)綠田機械:公司主要產品為通用動力機械產品(主要包括髮電機組、水泵機組、發動機)和高壓清洗機產品,該行認為公司已迎來業績拐點,看好公司估值修復。4)三德科技:公司業績持續兑現,該行看好公司業務成長性和估值修復空間。

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