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研報掘金丨中郵證券:錫業股份業績穩定增長,維持“買入”評級
格隆匯 07-17 13:59
中郵證券研報指出,錫業股份預計2025年半年度實現歸母淨利潤10.2-11.2億元,同比增加27.52%到40.03%;其中,預計公司25Q2實現歸母淨利潤5.21-6.21億元,環比增長4.41%-24.45%,同比增長9.92%-31.01%。公司業績增長主要受益於錫、銅、鋅等金屬市場價格同比上升,搶抓市場時機進行生產,多措並舉降本增效。此外,公司計劃報吿期內對部分固定資產進行報廢處置並計入非經常性損益項目預計金額-2.7億元,對歸母淨利潤造成一定影響。考慮到公司發展逐步進入成熟期,疊加錫價上行週期,公司業績穩定增長,以2025年7月14日收盤價為基準,2025-2027年對應PE分別為11.48/10.39/9.68倍。維持公司“買入”評級。
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