大和:維持中車時代電氣(3898.HK)持有評級 目標價24港元
大和總研發表研究報告指,中車時代電氣(3898.HK)今年首季淨利潤按年下跌39%,主要受動車組及鐵路機車的向相關產品交付量分別減少超過30%及40%,但相信在中車時代電氣準備充足,上半年的供應鏈並不是大問題。大和維持其持有投資評級及目標價24港元。
大和表示,在4月份逐漸復工下,中車時代電氣的管理層認為,今年鐵路機車相關產品的銷售錄得正增長,而根據中國鐵路目前的鐵路設備採購目標,料鐵路收入在今年將保持持平。而現時,公司在中國的鐵路機車的市場佔比達60%,管理層指難於進一步增加市場份額,但正發展城市交通相關產品。另外,公司新的IGBT工廠將在今年第四季試運。
大和為反映中車時代電氣今年首季業績,上調其2020-22年每股盈利預測0.2-0.6%。

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