中金:汽車供應鏈緊缺成本上升,料汽車及零部件行業短期利潤承壓
格隆匯4月11日丨中金髮表報吿指出,本輪疫情持續時間較長,將對內地整車產銷和供應鏈環節產生一定影響,第一是涉疫地區車企生產停滯,交通出行和工人到崗受到影響,預計產能恢復尚需4月中旬後;第二是上游供應鏈間接影響,江蘇等周邊地區零部件廠商生產和交付延遲,導致車企生產受限此外,該行認為汽車供應鏈緊缺成本上升,估計汽車及零部件行業短期利潤承壓,但新能源滲透率增長和汽車智能化長期趨勢不改,相關零部件依舊具有長期投資機會。中金建議關注龍頭自主整車和新勢力車企,包括小鵬(9868.HK)、理想(2015.HK)、蔚來(9866.HK) 、長城汽車(2333.HK)、長安(000625.SZ)及吉利(0175.HK);重卡濰柴動力H股(2338.HK)及A股(000338.SZ) 、中國重汽H股(3808.HK)及A股(000951.SZ);經銷商中升控股(881.HK)、美東汽車(1268.HK)(未覆蓋);二輪車雅迪控股(1585.HK)及愛瑪科技(603529.SH)等。
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