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中国广核(003816):电价下滑利润承压,装机稳定投产期来临
GF SECURITIES· 2026-03-27 10:08
[Table_Title] 中国广核(003816.SZ)/中广核电力 (01816.HK) 电价下滑利润承压,装机稳定投产期来临 [Table_Summary] 核心观点: ⚫ 风险提示。政策风险;电价风险;多基地安全稳定运行的风险。 盈利预测: | [Table_ 单位:Finance] 人民币百万元 | | 2024A | 2025A | 2026E | 2027E | 2028E | | --- | --- | --- | --- | --- | --- | --- | | 营业收入 | | 86,804 | 75,697 | 81,842 | 89,216 | 96,342 | | 增长率( ) | % | 5.2% | -12.8% | 8.1% | 9.0% | 8.0% | | EBITDA | | 38,596 | 34,136 | 36,864 | 40,416 | 43,886 | | 归母净利润 | | 10,814 | 9,765 | 10,379 | 11,451 | 12,549 | | 增长率( ) | % | 0.8% | -9.7% | 6.3% | 10.3% | 9.6 ...