研报掘金丨方正证券：维持国恩股份“推荐”评级，具有较大的估值向上弹性

格隆汇07-14

方正证券研报指出，国恩股份跳出化企发展困局，内核复用造就一体化平台。从产业链视角来看，国恩的业务板块构成了一个从上游原料到中游改性再到下游成型的完整业务链条。绿色石化板块提供基础原料，改性材料板块进行配方优化，复合材料板块向高附加值应用场景延伸。这一纵向布局，是公司区别于其他纯改性加工企业的结构性特征。国恩股份当前有一定概率正处于验证能力复用的“估值缺口”期，具有较大的估值向上弹性。未来随着公司...

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