《大行報告》瑞信下調比亞迪(01211.HK)目標價至350元 評級「跑贏大市」
瑞信發表研究報告指出,比亞迪(01211.HK)去年業績遜於市場預期,雖然全年收入按年升38%,惟純利按年跌28%至30.5億元人民幣,尤其是其去年第四季純利6.02億元,按年跌27%(按季跌53%)。
該行指,比亞迪去年第四季銷量則達28.87萬輛創新高,按年升81%,按季亦升39%。
該行指出,比亞迪作為垂直整合的新能源汽車製造商,正面臨來自電池金屬成本上漲的壓力,特別是鋰價格。該行考慮到比亞迪毛利低過預期,該行將比亞迪2022至2023年純利預測各下調19.4%及3.8%,目標價由380元降至350元,維持「跑贏大市」評級。
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