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《大行報告》大和削永達汽車(03669.HK)目標價至9元 評級「買入」
阿思達克 08-31 11:35
大和發表研究報告指,由於內地宏觀經濟疲軟和汽車芯片持續短缺,豪華汽車行業銷量下降,永達汽車(03669.HK)上半年新車銷量下降41%,其中豪華品牌跌35%,中高端品牌更跌53%,拖累中期收入及純利分別跌23%及40%。 展望下半年,管理層預期新車銷量將按年增長24%至12.6萬輛,與上半年比較將提升59%。大和相信,通過新能源汽車銷售增長,永達未來將錄得來自新車銷售和售後服務的額外收入貢獻,但由於上半年新車銷量和售後服務收入弱於預期,因此將2022至2024年每股盈測下調19%至31%。 大和預期,部分城市的防疫措施將繼續影響豪車銷售及維修服務,重申「買入」評級,但將目標價由22元大幅下調至9元,以反映對內地豪華汽車市場消費前景不明朗的擔憂。
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