智通财经APP获悉，福莱特玻璃(06865)急涨逾7%，截至发稿，涨7.14%，报12.6港元，成交额4339.94万港元。
国金证券发布研报称，头部光伏玻璃企业信义光能、福莱特凭借原材料规模采购、良品率等优势与二三线企业维持着10PCT以上的毛利率差距，考虑盈利承压背景下老旧小窑炉加速出清，光伏玻璃环节成本曲线有望保持陡峭，头部企业大窑炉优势有望凸显。
2025年1月信义、福莱特合计产能占比44%，前期高点达53%，考虑到低盈利状态下大部分二三线企业处于扩产能力和动力均不足的状态，头部企业有望凭借盈利及资金优势维持快于行业的产能增速，从而实现份额回升，巩固龙头地位。
该行续指，光伏玻璃短期供给有望维持低位甚至进一步下降，节后价格拐点可期；后续供给增幅有限且可控，激进复产假设下2025年行业平均日熔量同比增速仅3%，阶段性价格弹性大。玻璃为光伏产业链格局最优环节之一，龙头盈利优势稳定，双寡头份额有望回升。
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