金吾财讯 | 华源证券发研指，大唐新能源(01798)前三季度实现营收90.86 亿元，同比下降4.11%；归母净利润 18.7 亿元，同比下降 17.04%。单三季度实现营收24.58亿元，同比下降 1.6%；归母净利润 1.05 亿元，同比下降 34.78%（绝对值下降0.56亿元），公司单三季度归母净利润基本符合市场预期。值得注意的是，三季度为风电淡季，公司利润绝对值较低，单季度的利润波动对于公司全年业绩影响不大。结合公司前三季度经营情况，该行预计公司2024-2026年归属于母公司所有者的净利润分别为 26、27、29 亿元，剔除永续债利息约4.5亿元后，对应 2024-2026 年 PE 分别为 7.5、7.1、6.7 倍；当前PB 仅0.77 倍。公司当前估值水平仍处于历史低位，若行业发生边际好转将率先受益，维持“买入”评级。
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