金吾财讯 | 中联重科(01157)股价走低，截至发稿，报8.51港元，跌4.92%，成交额6960.93万港元。申万宏源研报指，中联重科发布25年年报，全年实现收入521.07亿，同比增长14.58%，归母净利润48.58亿，同比增长38.01%，扣非后归母净利润33.70亿，同比增长31.93%，业绩符合预期。考虑到汇率波动对毛利率的影响，该机构谨慎下调26-27年盈利预测，同时新增28年盈利预测，预计26-28年归母净利润分别为60.36、70.22、83.11亿（原26-28年盈利预测分别为63.00、78.41亿），当前股价对应26-28年PE分别为12X、11X、9X，公司估值仍处在历史中枢以下，因此维持“买入”评级。
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