國盛證券:吉利汽車(0175.HK)加速實現品牌升級 維持“買入”評級
國盛證券發佈報告稱,吉利汽車(00175.HK)與集團及領克簽訂的研發及營運服根據GEP3許可協議,公司向母公司開放GEP3發動機有關的專利、發明、設計、版權等,用於寶騰品牌車型使用,知識產權總許可費為人民幣3億元,許可期開始之日起五年內每年等額支付。
該行稱,公司向吉利實業出售濟南吉利,濟南吉利為遠景X1及知豆品牌汽車生產散裝套件,其發動機產品無法滿足現行排放標準,目前已停止生產。預計此次出售將不會對公司經營產能產能影響,此次出售後,公司將出現收益約人民幣 1.66億元。
該行表示,公司作為自主龍頭積澱深厚,技術實力、品牌力、新車發佈力度與合資品牌差距不斷減小。同時在市場深度調整過程中,公司戰略調整迅速,充分發揮民營機制靈活性。預計公司2019-2021年歸母淨利潤分別為94.7、128.9、149.8億港元,對應PE分別為11.7、8.6、7.4 倍,維持“買入”評級。

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 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. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.