《大行報告》瑞信下調廣汽集團(02238.HK)目標價至7元 評級「跑贏大市」
瑞信發表研究報告指,廣汽集團(02238.HK)第三季業績略低於市場預測,儘管銷量按季增25%,純利仍跌16%至23億元人民幣(下同)。該行指,集團為廣汽傳祺本土品牌營運和廣汽研發中心的部分車輛相關資產計提了6.55億元的資產減值損失,若剔除減值損失影響,第三季利潤或按季錄得正增長。另外,集團的投資收入亦按季下降12%至38億元,意味著豐田和本田合資企業在第三季面臨利潤率下降。
該行預計,2023年中國汽車行業的整體銷量將在有利的政策退出下錄雙位數跌幅,故將集團2023至24年每股盈測下調15.8至30.4%,並下調銷量和利潤率假設,將廣汽H股目標價由10.2港元下調至7港元,維持「跑贏大市」評級;廣汽A股目標價亦由17元下調至13元。
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.