---
title: "《大行》大摩：信义光能去年纯利逊预期  撇除减值后经常性纯利胜预期"
description: "大摩发表报告，指信义光能去年净利润按年跌 16% 至 8.45 亿元人民币，逊于预期，主要是 23 亿元人民币减值开支列入 2025 年业绩。扣除此项，经常性盈利约 21 亿元人民币，胜于该行预期，毛利率回复至 21.4%。该行给予其目标价为 3.4 港元，其评级为「增持」。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/277402775.md"
published_at: "2026-03-02T04:18:25.000Z"
---

# 《大行》大摩：信义光能去年纯利逊预期  撇除减值后经常性纯利胜预期

> 大摩发表报告，指信义光能去年净利润按年跌 16% 至 8.45 亿元人民币，逊于预期，主要是 23 亿元人民币减值开支列入 2025 年业绩。扣除此项，经常性盈利约 21 亿元人民币，胜于该行预期，毛利率回复至 21.4%。该行给予其目标价为 3.4 港元，其评级为「增持」。

大摩发表报告，指信义光能 (00968.HK) 去年净利润按年跌 16% 至 8.45 亿元人民币，逊於预期，主要是 23 亿元人民币减值开支列入 2025 年业绩。扣除此项，经常性盈利约 21 亿元人民币，胜於该行预期，毛利率回复至 21.4%。该行给予其目标价为 3.4 港元，其评级为「增持」。

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