韦尔股份评级（买入）FY21 revenue in line; Growth story stays intact

股票代码 ：603501
股票简称 ：韦尔股份
报告名称 ：FY21 revenue in line; Growth story stays intact
评级 ：买入
行业：半导体

10 Mar 2022

10 Mar 2022

Figure 1: Earnings revision

Source: Company data, CMBIGM estimates

Figure 2: CMBIGM estimates vs consensus

Source: Company data, CMBIGM estimates

Figure 3: Peers valuation

10 Mar 2022

Figure 4: 12M forward P/E chart

Source: Company data, CMBIGM estimates

Figure 5: 12M forward P/B band (RMB)

Source: Company data, CMBIGM estimates

PLEASE READ THE ANALYST CERTIFICATION AND IMPORTANT DISCLOSURES ON LAST PAGE 3

10 Mar 2022

Financial Summary

Source: Company data, CMBIGM estimates

PLEASE READ THE ANALYST CERTIFICATION AND IMPORTANT DISCLOSURES ON LAST PAGE 4

10 Mar 2022

Disclosures & Disclaimers

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OUTPERFORM : Industry expected to outperform the relevant broad market benchmark over next 12 months MARKET-PERFORM :Industry expected to perform in-line with the relevant broad market benchmark over next 12 months UNDERPERFORM :Industry expected to underperform the relevant broad market benchmark over next 12 months

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