Citic Sec research reports indicate that since the end of March 2024, as major companies raise fiberglass prices, the industry has entered a booming cycle, but current corporate profits and valuations are still at the bottom. Looking forward to 2025, the industry's supply-demand dynamic balance is expected to be maintained, with high certainty and flexibility in demand increments for high-end categories such as wind power yarns and thermoplastic short fibers, and prices also have upward flexibility; in 2026, the industry's new production capacity may significantly decrease, with a high possibility of temporary tightness in fiberglass supply, presenting room for price increases. Overall, the improvement in industry prosperity is expected to continue, with major fiberglass companies having room for improved profitability and valuation increases. The current industry is at a key opportunity allocation point, maintaining a "stronger than the overall market" rating.
中信证券:玻纤企业盈利改善和估值提升均具备空间和弹性 当前行业处于大机遇配置时点
Citic Sec: Both the improvement in profitability and the valuation increase in the fiberglass industry have room for growth and flexibility. The current industry is at a key opportunity allocation point.
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