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东方财富证券-时代电气(688187)深度研究:交通与能源携手,国内与海外并进-230628

轨交装备行业龙头,新兴装备业务发展迅猛。公司作为轨交装备行业龙头,轨交装备业务平稳发展,2022年实现营收126.6亿元,同比+3.3%;新兴装备业务已成为第二成长曲线,发展迅猛,2022年实现营收 51.47亿元,同比+100%。依托电力电子核心技术,公司在交通(轨交、汽车等)与能源(光伏、风电等)领域已经构建了“关键器件-核心部件-系统集成”的一体化产业布局。 轨交业务有望反转,进入增长新阶段

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