德业股份-逆变器业务成中流砥柱,迎光伏+储能迅猛增长-220804(40页)

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NingboDeyeTechnology(605117)EquityResearch·CompanyResearch·HomeAppliance(Ⅱ)1/40东吴证券(香港)请务必阅读正文之后的免责声明部分Asinverterbecomesthemaingrowthdriver,DeyeexpectsrapidgrowthfromPVandenergystorageBuy(Initiation)Forecast&Valuation2021A2022E2023E2024ERevenue(RMBmn)4,1685,5457,80210,606Growth(YoY%)38%33%41%36%Netp...

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