大行評級|瑞銀:下調信義光能目標價至4.4港元 下調2025及26財年每股盈測
瑞銀髮表研報指,信義光能2024財年業績符合初步盈警,期內淨利潤爲10億元,按年下跌73.8%,該行認爲上述業績疲弱主要原因包括太陽能玻璃盈利能力惡化,受需求疲弱拖累;因產能大修導致的資產減值損失3.93億元,以及存貨減記1.59億元。
另外,瑞銀將信義光能2025及2026財年每股盈利預測,分別下調20%及16%,主要反映持續過剩供應帶來的利潤壓力,同時將其H股目標價由4.6港元下調至4.4港元,維持“買入”評級。瑞銀亦指,儘管供需的結構性改善仍需時間,且長期需求增長持續承壓,但相關因素已大部分被市場所消化,因此預計太陽能玻璃價格在今年第二季度可能保持上行勢頭。
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