研报掘金丨信达证券：首予众鑫股份“买入”评级，替塑赛道领军者

格隆汇2025-07-28

信达证券研报指出，限塑刻不容缓，替代路径多元。众鑫股份专注于纸浆模塑餐饮具赛道（收入占比常年为98%左右）。创始团队具备上游模具&设备制造经验，成功在生产制造&技术工艺方面为公司赋能，助力成本领先。2024年公司人均创收/创利较2020年分别增长40.0%/47.0%，且两项指标均远高于同行；2022年单吨人工/能源成本仅为行业第二的30%左右，折旧仅为20%左右。未来伴随新设备/新产能持续落地，...

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