比亞迪：一季度淨利同比下降84.98%，二季度有望恢復增長
28日晚，比亞迪發佈2020年一季報，公司Q1實現營業收入196.79億元，同比下降35.06%；淨利潤1.13億元，同比下降84.98%。
從報告來看，公司營收和淨利同步下降主要是因為汽車銷量的大幅下滑，尤其是二月份銷量僅有5501輛，一季度總銷量為6.13萬，和去年同期11.76萬輛的銷量相比下降近一半。
來源：同花順
受新冠肺炎疫情影響，一季度汽車行業面臨較大壓力。據乘聯會數據統計，2020年一季度狹義乘用車零售市場301萬輛，同比下滑41%，創近幾年同期歷史新低。其中1月零售171萬輛，同比下滑21%。2月受疫情爆發影響，零售市場僅25萬輛，同比增速跌落-80%。3月開始各地陸續出台消費鼓勵政策，市場緩慢恢復，達到104萬輛，但仍然負增長40%。
此外，財報顯示，受應收賬款回籠速度加快的影響，一季度經營活動產生的現金流量淨流入49.49億，較同期淨流入增幅達1113%。公司現金流能力維持穩定，銷售回款能力顯著增強，意味着公司短期償債能力加強。
公司還發布2020年半年度業績預告，預計淨利潤為16億元至18億元，增長幅度為10.%至23.75%，上年同期淨利潤為14.55億元。
比亞迪表示隨着疫情影響逐漸消退，汽車行業穩步復甦。受益於行業恢復及集團品牌力的持續提升，預計公司Q2汽車銷量及收入將走出低谷，帶動集團收入實現恢復性增長。此外，口罩生產預計也將為集團的銷售收入及盈利增長提供正面貢獻。
乘聯會數據顯示，受前期堆積訂單的釋放影響，近期市場很大程度回升，4月市場降幅進一步縮窄，預計狹義乘用車零售銷量139萬輛，同比-8%左右。
來源：乘聯會
市場逐漸回暖，加上近期中央與地方政府陸續出台的消費鼓勵政策，比亞迪有望在二季度恢復業績增長。
股價上面，近期公司股票有所反彈，今日早盤高開，截止發稿，漲幅2.14%，報價58.2元，總市值1587.77億元。
來源：富途
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