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研報掘金丨華鑫證券:首予咸亨國際“買入”評級,驅動電商與戰略板塊雙高增長
格隆匯 06-18 15:21

華鑫證券研報指出,央企集採釋放廣闊市場空間,咸亨發電領域實現從零突破。2024年,公司在發電、油氣、核工業、交通和政府應急五大新戰略行業實現銷售收入10.91億元,同比增長約70.97%,其中發電行業營收由2023年的幾乎為零躍升至2.33億元,展現出快速滲透與放量潛力。同時公司計劃將電網領域成熟的服務模式移植至其他戰略行業,提升非標化產品與服務比例,增強客户粘性。公司明確將戰略行業與新型電商的快速發展作為未來核心盈利增長點,依託垂直場景的深度洞察與技術迭代,持續滿足客户多樣化需求,推動該曲線實現高質量、規模化擴張。考慮咸亨國際深耕央國企MRO集約化服務,以電網基本盤輻射發電等新行業,依託屬地化服務+非標產品能力+智能技術支撐,驅動電商與戰略板塊雙高增長,首次覆蓋給予“買入”投資評級。

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