智通财经APP获悉，建滔积层板(01888)再涨超4%，截至发稿，涨4.53%，报19.66港元，成交额2.17亿港元。
光大证券发布研报称，建滔积层板覆铜板具备较强议价能力与成本传导能力，供给偏紧+铜价上行周期利好价格和盈利。公司下游客户分散，2024 年前五大客户销售额合计占比低于30%，约78%的收入来源于非关联交易的第三方市场，具备较强的议价能力与成本传导力。该行认为，当前覆铜板行业供给偏紧、叠加铜价处于上行周期，有望驱动覆铜板价格和盈利双升。
该行续指，公司深度布局覆铜板上游原材料，2025 年于广东持续扩产低介电玻纤纱(5G、6G 通信和AI 服务器等高端通信领域需求)工厂以缓解产能瓶颈；于广东连州月产1,500 吨的最新铜箔产能全面投产使用，直接响应数据中心及云计算带来的厚铜箔激增的需求。产业链垂直布局有助于降低上游原材料价格波动风险，高附加值低介电玻纤纱有望打开公司成长空间。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.