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隆达股份:高温合金赛道新星产品性能优势突出-220929(28页).pdf
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受益于毛利率提升及管理费用率下降,公司净利率逐年增长。高温合金作为公司的主要产品,逐步走过前期预研、小批量生产阶段,22H1 毛利率为 27.93%,远高于合金管材的毛利率 9.98%,伴随高温合金营收比重进一步提高,将持续带动公司业务结构中高附加值业务占比提升,推动公司整体销售毛利率增长。与此同时,公司期间费用管控良好,管理费用率呈显著下降趋势,公司整体期间费用率从 18 年的 11.21%下降至 22H1 的 6.06%。综合以上因素,近 5 年公司净利率处于爬坡状态,从 2018 年的-3.63%持续增长至 22H1 的10.65%。预计伴随新产能落地,以及高温合金业务规模效应带来的成本优化,未来盈利能力有望进一步增强。
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当前图表所属:
隆达股份:高温合金赛道新星产品性能优势突出-220929(28页).pdf
2022-2025年高温合金市场年均需求量预计达约5.45-5.46万吨/年
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太空探索将带来2022-2025年总计1643吨火箭发动机高温合金市场需求
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