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研報掘金丨華鑫證券:首予勝宏科技“買入”評級,盈利能力進一步增強

華鑫證券研報指出,勝宏科技2025Q1實現歸母淨利潤9.21億元,同比增長339.22%。公司業績雙增的主要原因系公司前瞻佈局AIPCB領域,精準把握AI算力技術革新與數據中心升級浪潮帶來的歷史新機遇,佔據全球PCB製造技術制高點,憑藉研發技術優勢、製造技術優勢和品質技術優勢,驅動公司高價值量產品的訂單規模急速上升,盈利能力進一步增強。根據公司預測,2025年Q2公司淨利潤環比增長不低於30%,2025年H1公司淨利潤同比增長超360%。認爲勝宏科技有望持續受益於下遊AI、通信、消費電子、汽車電子等多領域的發展,公司業績有望保持高增。隨着海外CSP廠商持續擴大資本開支投入AI算力建設,公司綁定下遊大客戶,AIPCB產品在下遊AI數據中心應用領域的市場份額全球領先,首次覆蓋,給予“買入”投資評級。

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