华西证券：星宇股份需求升级与格局优化共振，国产车灯龙头再启航

财中社11-21

财中社11月21日电华西证券发布研报，对星宇股份进行点评，主要观点如下：车灯赛道bom成本拆分，原材料占比约80%+，制造占比约10%+，人工占比约7%+，由此可见，产业链的垂直整合至关重要。星宇布局整个产业链+高效的经营管理将带来整体利润率的提升。长期以来，国外供应商欧司朗控制了车灯技术（光源）升级的源头，国内厂家都是跟随策略，而目前，车灯逐渐由功能件转为智能部件，随着国内自主供应商端侧SOC...

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