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《大行報告》匯豐研究降中升(00881.HK)評級至「持有」 目標價下調至20元
阿思達克 09-28 09:58
匯豐環球研究發表報告,將中升控股(00881.HK)評級由「買入」下調至「持有」,目標價由52元大幅削減至20元,認為在市場需求放緩及電動車的競爭下,新車銷售業務有較大價格壓力,而新車銷售減慢,預期盈利只有溫和增長。 該行指,中升年初至今股價跌46%,而恆生綜合指數跌幅只有9%,表現差過該行預期,因為該行低估了傳統內燃機汽車銷量收縮的程度,亦低估了去庫存壓力下,分銷商利潤率收窄的幅度。該行認為,第四季旺季新車銷售改善,高檔品牌如平治、寶馬、奧迪市場份額改善,但在電動車的競爭加劇下,估計傳統內燃機汽車銷售會進一步收縮。 匯豐環球研究將中升今明兩年盈利預測,分別下調40%及44%,料其2025年預測盈利74.9億元人民幣,按年升幅6%。
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