晶苑国际(2232.HK):24年盈利能力提升 期待自动化&一体化继续提效

招商证券
21 Mar

2024 年公司营收同比+13.4%至24.70 亿美元,净利润同比+22.4%至2.01 亿美元。全年分红率约70%,较往年有显著提升。各品类毛利率均有提升,费用率控制良好。员工增加、产能提升,垂直一体化持续推进,公司预计利润增速将继续快于收入增速。预计25-27 年归母净利润分别为2.34 亿美元、2.74 亿美元、3.17 亿美元。当前市值对应25PE8X,26PE7X,维持强烈推荐评级。...

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