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花旗:比亞迪(1211.HK)可受惠於半導體業務上市 維持首選股
格隆匯 04-15 10:36

花旗發表研究報告指,比亞迪(1211.HK)半導體業務若獨立上市將大力提高現在上市公司的現金狀況,同時為後續電池業務的IPO奠定基礎。花旗仍視比亞迪為行業首選股,並維持其“優於大市”投資評級。

花旗預計,比亞迪半導體業務在2020-2025年的收入複合年均成長率為51%,主要基於中國新能源車2020-2025年的複合年均成長為28%,以及公司IGBT和MOSFET半導體在2025年中國市場佔有率達到45%。

另外,中金公司發表研究報告指,比亞迪預告首季度盈利按年下降80%-93%,受益電子業務業績好於市場預期,不過新冠疫情對新能源車需求衝擊較大。該行指,考慮疫情影響,下調比亞迪2020年盈利預測20.5%至14億元人民幣,但未來仍看好比亞迪刀片電池技術將拓展鐵鋰電池的應用範圍至A級車和更高級別市場,為公司帶來業務增長,維持“跑贏行業”評級。

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