智通财经APP获悉，高盛发布研报称，长飞光纤光缆(06869)中移动招标结果逊预期，将招标结果计入对长飞光纤的预测;该行将2025-27年净利润预测下调4%~5%。该行对长飞光纤评级为中性，并将12个月目标价格调整至12.1港元。
在中国移动2025-26年招标结果公示后，高盛回顾长飞光纤的盈利预测。招标结果主要有两方面与预期不符：1)长飞光纤的中标份额较此前招标下降;2)本次招标的采购均价为人民币47.7元/芯公里，较2023年上一次招标下降26%。
中国移动的光缆需求通常占中国电信行业光缆总需求的40%~50%，而且中国移动的招标通常被视为行业基准。疲软的定价印证了该行对中国电信行业光缆前景的谨慎看法此次招标结果与预期的主要差异在于长飞光纤的中标份额下降。长飞光纤在过去中国移动的光缆招标中通常占据领先份额，但此次中标份额排名第三，为13.6%，低于此前招标19%~20%的份额。
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