花旗研究报告指，将信义光能(00968.HK) 2025年净利润预测下调46%，2026至2027年下调32至36%，以反映太阳能玻璃价格较低及预期产量没有扩张；目标价由3.65元降至2.3元，维持“中性”评级，因市账率较便宜。
该行认为公司正面对不同挑战，如销售价格下滑，5月份2.0mm及3.2mm太阳能玻璃的售价分别按年跌25.5%及17.8%。另外，行业库存升至29.2日的高位；基于关税的不确定性，该行料太阳能安装量于今年4月见顶后将于下半年下跌。再者，来自二线及以下同行的竞争加剧，作为龙头的福莱特玻璃(06865.HK) 和信义光能的生产占比下跌了2.9个百分点至39.2%。该行又料信义光能2025全年的有效年熔化量将按年跌6.6%至846.8万吨，而管理层于2月时指引为按年升1%至908万吨。(ss/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-02 16:25。)
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