【中泰證券：中國宏橋(01378.HK)成本控制顯著盈利超預期維持“買入”評級】智通財經APP獲悉，中泰證券發佈研報

智通財經

07-09

【中泰證券：中國宏橋(01378.HK)成本控制顯著盈利超預期維持“買入”評級】智通財經APP獲悉，中泰證券發佈研報稱，中國宏橋(01378.HK)一體化經營下成本控制較好，仍能實現較好盈利，預計公司2025/2026/2027年淨利潤分別爲218/221/247億元(前值264/342/451億元)，對應PE分別爲7.0/7.0/6.2倍，維持公司“買入”評級。考慮到全球面臨的關稅風險，該行下調了對 2025/2026/2027年鋁價假設爲 2.0/2.0/2.1 萬元/噸（前值 2.1/2.3/2.5 萬元/噸），此外氧化鋁供應端投放較快帶來行業供過於求，該行同時下調氧化鋁價格假設爲 3150/3000/2800 元/噸（前值 3400/3450/3500 元/噸）。

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