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《大行报告》中金中联重科(01157.HK)盈喜符预期利润率显着改善
阿思达克 07-15 15:16

中金发表报告表示,就中联重科(01157.HK)发布今年上半年业绩预告,预计实现归母净利润24亿至27亿人民币,按年增长1.72倍至2.12倍,符合此前预期。该行考虑中联重科盈利能力有望持续提升,决定上调对其今明两年盈利预测各6.7%及9.3%,分别至40.25亿至47.91亿人民币。

该行维持中联重科「跑赢行业」评级,和H股目标价5.79元,对应相当预测2019及2020年市盈率各10及9倍 ,对应当前股价有16%上行空间。

中金称,预计中联重科今年第二季收入在120亿元人民币左右,按年增长40%以上,以公司公告的归母净利润中值计,第二季公司归母净利润约为15.5亿人民币,按年增长约为220%,对应销售净利率约为13%,同、环比分别提高约7/2个百分点,盈利能力在持续改善。

公司盈利能力改善,该行预计一方面是得益於高毛利的优势产品混凝土泵车、大吨位汽车起重机、塔式起重机销量持续快速增长,中金预计,中联重科毛利率按年明显提升,较首季高位基本持平。

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