研报掘金丨华鑫证券：首予光洋股份“买入”评级，机器人业务勾勒第二成长曲线

格隆汇09-04

华鑫证券研报指出，光洋股份是国内汽车轴承领军企业，新兴产业多点开花。2024-2025年公司实现扭亏为盈，业绩持续增长主要由于汽车零部件业务产能陆续释放。2026H1，公司扣非后净利润同比下降主要系机器人业务前期研发投入较大、汇兑损失增加及股份支付费用上升所致。汽车轴承国产替代需求广阔，压舱石业务稳步增长；光洋凭借高端轴承技术与国产替代优势，持续抢占外资品牌份额。PCB市场快速扩张，外延并购布局...

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