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野村:比亞迪股份(1211.HK)首季業績符預期 重申買入評級
格隆匯 04-29 14:18

野村發表研究報吿指,比亞迪股份(1211.HK)首季業績表現符合預期,純利錄2.37億元人民幣,與其早前提出的盈利指引相符,公司首季亦受到原材料價格成本上升所影響,由本年初至今上述情況普遍出現在汽車行業,其研究開發成本按年升4.61億元人民幣,影響公司的盈利能力,但預期在最近晶片短缺的情況下,公司的垂直整合業務模式將有利其發展,維持目標價300港元,重申買入評級。

該行表示,儘管短期面臨挑戰,但認為公司未來將有數個強勁增長動力,包括電動車的銷售將進一步受到新車型所推動,客户對此亦有強勁需求,比亞迪刀片電池在全球代工生產商及潛在的第三方客户中逐漸受歡迎。另外,計劃分拆比亞迪半導體上市,為今年的股份價值增值催化劑,預期2019至2022年每股盈利年複合增長率為70%。

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