玖龙纸业（02689）：玖龙纸业公司更新报告：业绩再超预期，浆纸一体化驱动价值重构

玖龙业绩再超预期，FY26H1 预计盈利 19.5-20.5 亿元，浆纸一体化驱动公司价值重 构 投资要点： 业绩再超预期，浆纸一体化驱动价值重构 玖龙纸业(2689) | 财务摘要(百万元人民币) | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 59,496.37 | 63,240.54 | 69,300.00 | 76,292.37 | 84,020.79 | | (+/-)% | 4.9% | 6.3% | 9.6% | 10.1% | 10.1% | | 毛利润 | 5,711.47 | 7,245.14 | 12,000.00 | 13,212.37 | 14,540.79 | | 净利润 | 750.68 | 1,767.11 | 4,004.52 | 4,395.59 | 4,842.75 | | (+/-)% | 131.5% | 135.4% | 126.6% | 9.8% | 10.2% | | PE | 20.31 | 8.50 | 8. ...