《大行報告》大摩:正通汽車(01728.HK)中期錄虧損顯示營運未恢復 架構重組持續推進
摩根士丹利發表報告表示,正通汽車(01728.HK)今年上半年營運仍未恢復,期內虧損按年擴至14.55億人民幣,期內新車銷量按年增長恢復至12%,但由於OEM回扣減少,令新車利潤率轉為負7.5%(對比2020年上半年為正4.1%)。售後收入按年下降9%,毛利率較低(按年下降7.2個百分點至35.2%)。
該行指,正通汽車業務架構重組持續推進:正通已完成控股股東向廈門國貿控股29.9%股權轉讓,如此前所述,王木清將於9月9日辭去董事長職務,廈門國貿等三名管理層成員將被任命為董事,未來可能會組成正通的主要高級管理團隊。
大摩表示,維持對正通汽車「與大市同步」評級及目標價0.7元。
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