中国动力:低估的船机龙头 船舶周期方兴未艾

招商证券股份有...
Dec 26, 2025

中国动力是国内船舶发动机龙头企业,受今年船市量、价承压的影响,估值已显低估。我们的观点很明确,短期内船市呈现修复迹象,长期散货船、油船等主流船型蓄势待发,且替代燃料仍是大势所趋,这都为中国动力提供了更持久的业绩增长预期。我们再次发布深度报告,对中国动力维持 “强烈推荐”投资评级。民船上行周期确立,民船发动机业务渐成公司利润增长核心驱动力。最新季度业绩,中国动力2025Q1-Q3 实现营业收入...

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