智通财经APP获悉，富瑞发布研报称，氮化镓(GaN)是消费电子、电动车及新能源等领域中最有前景的电力半导体，而英诺赛科(02577)是全球最大的氮化镓IDM公司。该行首予英诺赛科“买入”评级，目标价54.34港元。
该行提及，英诺赛科作为中国公司，具有很大优势，因为中国是最大的潜在氮化镓市场，而中国原始设备制造商(OEM)生产全球约55%的智能手机，其快速采用基于氮化镓的快速充电技术，相信有助英诺赛科扩大规模，并认为中国将在电动车的氮化镓采用中扮演关键角色。
此外，英诺赛科计划至2028年将产能提高六倍，可迅速降低成本并推动行业采用。富瑞预测英诺赛科将于2025年下半年毛利率转正(21%)，2026年接近收支平衡，而2027年将实现正向现金流，净利润料达6.85亿元人民币。
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