花旗发表研究报告指，敏实集团(00425.HK) 已进入实现盈利周期，去年电池盒净利润率升至13.8%，随着全球电动车渗透率增长，预计电池盒业务将保持较高增长势头。公司对今年资本支出指引为20亿元人民币。
该行指，由于全球产能布局已基本完成，预期减少资本支出将带动自由现金流进入上升周期，有利于提高派息率。该行将公司今明两年收入预测分别上调1%至2%，至263亿元及290亿元人民币，2027年收入预测达317亿元人民币；毛利率预测各上调0.1个百分点，至28.8%及28.9%，2027年毛利率料达29.1%；纯利则各上调1%，至27亿元及30.1亿元人民币，2027年料达32.9亿元人民币。
该行将敏实集团目标价由31元上调至32元，维持“买入”评级。(ca/j)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-26 12:25。)
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