Guosen Securities: Sustained Strong Downstream Demand Maintains Silan Micro’s “Buy” Rating_Oriental Fortune Network

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[Guosen Securities: Downstream demand continues to be strong, maintains Silan Micro’s “buy” rating]Guosen Securities believes that Silan Micro’s product production capacity will be upgraded, and both revenue and profits will be harvested in 2021. At present, the supply of IGBTs and mid-to-high-end MOSFETs is still tight, and international manufacturers such as Infineon have issued price increase letters. In this context, the company’s production capacity continued to be released, ushering in a golden period of growth. It is estimated that the company’s revenue from 2022 to 2024 is 103/128/15.3 billion yuan, and the net profit attributable to the parent is 16.0/20.6/2.51 billion yuan. The current stock price corresponds to PE of 48/37/31x respectively. The company’s photovoltaic and new energy vehicle IGBTs are expanding smoothly. Product production capacity has been upgraded, and the “buy” rating is maintained.

e company news,Guosen Securitiesthink,Silan MicroProduct production capacity will be upgraded, and revenue and profits will be doubled in 2021. At present, the supply of IGBTs and mid-to-high-end MOSFETs is still tight, and international manufacturers such as Infineon have issued price increase letters. In this context, the company’s production capacity continued to be released, ushering in a golden period of growth.It is estimated that the company’s revenue in 2022-2024 will be 10.3/12.8/15.3 billion yuan, which will be returned to the parentnet profit16.0/20.6/2.51 billion yuan, and the current share price corresponds to PE of 48/37/31x respectively. The company’s photovoltaic and new energy vehicle IGBTs are expanding smoothly, and product production capacity has been upgraded. Maintain a “buy” rating.

(Article Source:securitiesTimes e company)

Article source: Securities Times · e company

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Original title: Guosen Securities: Downstream demand continues to be strong, maintains Silan Micro’s “buy” rating