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《大行報告》大和升小鵬(09868.HK)目標價至231元 料明年毛利率改善
阿思達克 11-26 14:27
大和發表報告指,小鵬汽車(09868.HK)舉行了第三季分析員會議,並就前景提供了部分正面指引。小鵬指引至今年12月每月交付1.5萬輛車。而明年集團將有四種車款銷售,該行料其於明年可維持每月平均交付1.5萬輛車。 該行表示,集團今年第三季新車毛利率爲13.6%,較去年同期的3%,及今年第二季的11%有改善,主要受於交付量按年增長199%及按季增長48%,加上「P7」的銷量比例較高。大和預期,小鵬明年的新車毛利率可上升至21%,主因產能利用率提高,及來自點對點駕駛輔助系統軟體「XPILOT」的收入。 大和調升集團今明兩年收入預測6%至10%,新車交付量亦分別升至9萬輛及18.5萬輛,更預計小鵬今年第四季的虧損將會收窄,並於明年錄得盈利,故將其目標價由209元升至231元,維持「買入」評級。
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