花旗:長城汽車(2333.HK)今年銷售目標190萬輛 評級“買入”
花旗發研報指,長城汽車(2333.HK)2022年的銷售目標為190萬輛,又預計旗下品牌魏派(WEY)、歐拉(Ora)、及坦克(Tank)的銷量增長將會較快,而哈弗(Haval)及皮卡車(Pickup)將維持相對較慢增長。該行予集團“買入”評級,及H股目標價46.8港元。
長汽公佈,去年純利按年增長26.47%至67.82億元(人民幣.下同),營業總收入約1363億元,按年增約32%,即意味核心純利增長12%至42.89億元,主要是由於銷售增長、銷售結構改善、及全年平均汽車銷售返利減少至約3000元。長汽去年第四季汽車銷量按季增加49%至39.7萬輛,意味着收入按季增58%至455.2億元,均價升至11.5萬元。管理層指,股票期權的支出預計將對2022年上半年的財務產生持久影響,但從下半年開始,該支出將會減少。

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