研报掘金丨华安证券：维持阳光电源“买入”评级，单季毛利率创年内新高

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华安证券研报指出，阳光电源2025年前三季度实现归母净利润118.81亿元，YoY+56.3%；Q3归母净利润41.47亿元，YoY+57.04%。前三季度盈利高增，单季毛利率创年内新高。光伏逆变器业务业务稳健增长，新品引领行业发展；储能系统业务营收高增，海外高毛利订单占比持续提升；AIDC新业务布局加速，打造第三增长极。目前公司正积极与国际头部云厂商，国内头部互联网企业展开合作，2026年有望...

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