研報掘金丨華福證券:首予騰亞精工“買入”評級,機器人智能關節打造新增長點
華福證券研報指出,騰亞精工是國內射釘緊固器材細分行業的龍頭企業,也是業內領先的具備國際競爭力的中高端建築五金製品的集成供應商。2024年公司實現營收6.07億元,同比增長31.14%,實現歸母淨利潤1039.37萬元,同比+118.09%。2024年公司動力工具毛利率爲19.38%,建築五金製品毛利率爲35.14%,在行業內處於較高水平。公司還依託原有技術優勢,持續研發新型電動工具與園林工具。隨研發成果不斷轉化落地,公司業績將持續增長。在全球智能機器人進入高速增長週期背景下,公司與關聯方投資成立騰亞科衆,交易完成後將持有合資公司40%股權。該合作將充分整合各投資方的資金、技術、市場渠道等多方面資源,培育新的贏利點。考慮到公司還在拓展智能關節等新業務打造新的增長曲線,首次覆蓋給予“買入”評級。
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