林泰新材:湿式纸基摩擦片国产稀缺标的 十年磨一剑 成长拐点已至

上海申银万国证...
Jun 20, 2025

湿式纸基摩擦片国产稀缺标的,混动放量+突破国际客户。公司十年磨一剑,掌握了自动变速器湿式纸基摩擦片制造的核心技术,在国内乘用车领域打破垄断、实现国产替代,是目前国内唯一为乘用车批量配套的国产供应商。2024 年以来,以比亚迪、吉利为代表的DHT 项目放量,公司业绩迎来成长拐点,2025Q1 营收、归母同比增长107%、288%,同时公司麦格纳DCT 项目2024 年12 月成功投产,开始从国内走向...

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