研报掘金丨华源证券：维持电投能源“买入”评级，拟收购白音华煤电，定价合理盈利有望上台阶

中金财经2025-11-28

华源证券研报指出，电投能源拟收购白音华煤电，定价合理盈利有望上台阶。白音华煤电主营业务及盈利模式与电投能源基本一致，若资产购买落地，有望显著增大公司现有的“煤电铝”一体化业务规模。白音华煤电2025年归母净利润或超20亿元：据公司公告，白音华煤电2025年前三季度归母净利润约为14亿元，其中2025Q3归母净利润约6.4亿元，考虑Q4铝价进一步上行，则2025年归母净利润有望超20亿元，显著提升...

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