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《大行報告》瑞銀:小鵬(09868.HK)錄匯兌虧損逾9億人幣及本季交付指引弱 令市場意外
瑞銀發表報告表示,小鵬汽車-W(09868.HK)今年第二季營運虧損20.91億人民幣按季擴大9%,虧損擴大至27億人民幣,高於市場原預期20億人民幣,毛利率及支出大致符合預期,但期內錄外匯匯兌損失9.38億人民幣,從而令季度業績遜預期。 瑞銀指,小鵬汽車的匯兌損失為9.38億人民幣,原因是其在美元功能貨幣子公司中持有的人民幣資產以及人民幣兌美元貶值所致。鑑於第二季度人民幣兌美元貶值5%,該行估計資產敞口約為190億元人民幣,並認為更多的是一個會計問題,而不是一個警示問題。 該行指小鵬汽車第三季度汽車交付量將介乎2.9萬至3.1萬輛,指疲弱的本季收入指引及外匯匯兌損失,最令市場感到意外。瑞銀表示,維持對小鵬汽車(XPEV.US)「中性」評級及目標價34美元。(wl/k) ~
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