财信证券研报指出，桐昆股份投建长草东煤矿，完善新疆一体化布局。建设该项目是公司进一步向上延伸产业链，完善聚酯化纤主业原料供应、保障新疆当地生产装置燃料稳定供应的需要。该项目的建设是公司完善聚酯化纤主业原料供应、保障新疆当地生产装置燃料稳定供应的需要，2025年公司在新疆的中昆新材料热电联产项目、宇欣新材料热电联产项目预计消耗燃料煤50万吨。近年来，公司前瞻布局新疆市场，利用新疆地区丰富低廉的原材料资源打造涤纶产业链优势。行业周期处于历史底部，给予公司2025年1.0-1.2倍PB，维持“买入”评级。
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