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野村:東風汽車(0489.HK)仍將面臨品牌定位等結構性挑戰
格隆匯 04-07 14:08

野村發表研究報告指,東風汽車(0489.HK)去年淨利潤128.6億元人民幣,按年跌1%,較該行預期低6%,主要由於預期去年下半年的復甦並未實現、政府補助較2018年減少5億元人民幣。該行維持東風汽車目標價8.2港元,以及“中性”評級。

野村表示,集團今年的資本支出預算為162億元人民幣,與去年的水平基本持平,認為將使集團在可預見的未來有更多空間去增加股息支付率。

該行又指,除了當前的新型冠狀病毒肺炎疫情,對集團今年上半年的營運及銷售產生負面影響外,長期而言,在行業競爭加劇的情況下,集團仍面臨國內品牌和新能源汽車品牌定位等的結構性挑戰。

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