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研報掘金丨長江證券:維持歌爾股份“買入”評級,底部機遇與成長空間凸顯
格隆匯 07-01 15:54

長江證券研報指出,歌爾股份本輪員工持股計劃規模遠超上一期“家園7 號”持股計劃,公司在相對底部位置積極看好未來成長機遇。業績考核目標彰顯公司長期穩定增長的信心,且股權激勵費用整體處於可控區間,預計對2025年的淨利潤影響僅約為2671.85萬元。經歷關税風波後果鏈龍頭普遍迎來調整,但目前來看影響程度有限,公司作為低估值龍頭長期成長趨勢顯著。公司積極橫向拓展消費電子業務,從可穿戴設備、智能音箱邁入VR/AR行業,各項業務形成良好共振,使得公司成為虛擬現實行業集聲、光、電為一體的精密製造龍頭企業,經歷關税風波後當前處於底部區域,底部機遇與成長空間凸顯。預計2025~2027年公司實現歸母淨利潤35.72/42.09/50.44億元,維持“買入”評級。

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