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《大行報告》高盛:比亞迪(01211.HK)召回唐DM電動車 輕微下調今年盈測
國家市場監督管理總局宣佈比亞迪(01211.HK)有部分唐DM電動車因存在安全隱憂,共有52,928輛車需要被召回。高盛發表研報指,比亞迪2021年4月至今累計生產約70,197輛唐DM電動車,第二季銷量貢獻約6%,該車型基礎版零售價爲20.58萬元人民幣,明顯高於比亞迪2021年每輛車整體平均售價,表明該車型毛利率較高。 高盛指,此次召回是由電池託盤的水分和滲水風險引發,比亞迪已決定檢查所有唐DM的電池託盤,並將更換及重新安裝有問題的零部件。 因應事件影響,該行將比亞迪2022年盈利預測下調1%,並維持2023至2024年預測,假設比亞迪檢查中有一半車輛發現問題,更換總成本預料達到約7,900萬元人民幣,相當於2022年息稅前利潤預測約0.8%,風險可控,因此維持「買入」評級及目標價405元不變。
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