You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》野村上調吉利(00175.HK)目標價至30.2元 評級「買入」
阿思達克 08-02 10:16
野村發表報告將吉利汽車(00175.HK)目標價由27.8元升至30.2元,評級「買入」,維持對公司下半年的正面看法,認為其盈利前景應進一步復甦,主要由於芯片短缺情況將緩和帶動生產提升,而公司產品組合亦持續改善,單價較高的新車款增加,該行認為作為領先的廠商加上具強勁的電動車產品,吉利面對的監管風險有限,因為公司對中國長遠環保目標有貢獻。

該行估計吉利上半年中期淨利將按年升22%至28億元人民幣(下同),期內銷量增約19%,而平均銷售單價則升8%,不過影響部分被毛利率下跌1個百分點所抵銷。另外考慮原材料成本壓力及芯片短缺問題困擾上半年,認為公司將聚焦於改善產品組合而非搶佔市場份額,以為利潤下行帶來緩衝。

野村舉例指,吉利已自首季逐步退出低端車款Vision的轎車,並在次季顯著減產Vision SUV,另一方面增加了新款、價位較高的車型,相信將帶動整體平均銷售單價提升,並緩解利潤方面的壓力。

因此野村將吉利2021年銷量預測降7%,但就將平均銷售單價預測升7%,毛利率微跌0.5-1個百分點,總括而言將吉利2021至2023年每股盈測各降13%、5%及4%,估計芯片短缺情況在第三季將開始緩和,並將在未來數季帶動產出復甦。(el/w) ~

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account