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《大行報告》美銀證券:長汽(02333.HK)受惠盧布匯兌收益 維持「買入」評級
阿思達克 07-15 15:05
美銀證券發表研究報告指,長城汽車(02333.HK)上半年純利預期按年增長50.2%至67.2%,主要來自於俄羅斯盧布兌人民幣的外匯收益增加,扣除一次性項目經調整初步淨利潤預期則按年下跌19%至37%。 當中第二季純利預期達到37億至43億元人民幣,按年增長94%至126%。美銀指出,長汽上半年銷量達到51.9萬輛,按年跌16%,其中首季銷量按年下跌16%,次季銷量按年亦跌16%,當中主要受到封城措施及疫情對汽車生產、供應鏈和終端消費相關影響的拖累。 報告指出,雖然長汽繼續利用改進產品組合來提升產品均價,但核心盈利受到今年4月至5月份的利用率下降所拖累,據管理層指引預期供應鏈要到8月才開始恢復,月產量預計將從7月的13萬輛提高到年底的18萬輛。該行維持長汽H股「買入」評級,目標價20元。
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