《大行》大華繼顯升信義光能(00968.HK)評級至「買入」 中期業績符預期
大華繼顯發表研究報告指,信義光能(00968.HK)上半年盈利按年跌58.8%,符合預期;收入按年降6.5%;太陽能玻璃業務的利潤率降至11.4%,主要是由於均價低迷和持續的固定成本壓力。基於政策刺激和供應約束推動重新評級潛力,將集團評級上調至「買入」,目標價3.6元。
該行表示,信義光能管理層將今年的有效年熔化量指引由908萬噸下調至813.7萬噸,即料按年下降10.3%,又預計在明年首季印尼新產能投產之前,保持保守的供應立場。
該行將今年盈測下調8%,2026及27年盈測上調2%和5%,以反映今年銷量預測下降及預期明年產品價格復甦。該行相信,市場情緒及政策支持會是該股重新評級的關鍵催化劑。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.