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研報掘金丨華鑫證券:首予宗申動力“買入”評級,航空動力與新能源雙輪驅動

華鑫證券研報指出,宗申動力低空業務系統集成+國際認證構築成長雙引擎。公司子公司宗申航發作爲國內稀缺的民營航空發動機高新技術企業,深度卡位旋翼/固定翼通航飛機及無人機動力系統賽道。公司憑藉多年深耕積累,積極把握市場機遇,經營韌性凸顯,驅動收入與利潤穩健增長。戰略層面,公司堅持內生外延雙輪驅動:對內深挖細分場景應用(如“發動機+無人機”模式),對外強化營銷網絡及服務體系。預期公司充分受益低空經濟產業擴張浪潮,成長動能充沛。宗申動力前瞻性實施新能源產業雙輪驅動戰略,成功構建新能源動力系統與儲能兩大產品體系,覆蓋電驅動系統(電機、電控)、儲能業務(便攜式儲能、家庭儲能、工商業儲能、動力電池)及氫能源(50kW及以下氫燃料電池系統)三大核心賽道,實現傳統業務穩健增長與新能源創新突破的良性互動格局。考慮宗申動力低空經濟龍頭優勢穩固以及新能源業務驅動,低空經濟政策賦能加速業績釋放,首次覆蓋給予“買入”投資評級。

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