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公司同时具备规模优势、成本优势和技术优势,未来两年业绩大幅增长的驱动力是产能的释放和成本的下降。从长期来看,一体化公司经营比较稳定,抗周期性波动风险较强,应该获得较高市盈率水平。
The company also has the scale advantage, cost advantage and technological superiority. The driving force for the substantial growth of performance in the next two years is the release of production capacity and the decrease of cost. In the long run, integrated companies are more stable and have a stronger risk of cyclical fluctuations and should have higher PE ratios.