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《大行報告》瑞信:蔚來(09866.HK)末季銷量目標逾6萬輛 管理層料本季毛利率按季改善
蔚來-SW(09866.HK)今早(13日)股價抽上,盤中曾高見174元一度彈高20.8%,最新報169.7元升17.9%。瑞信發表上週五(9日)報告表示,指參與了蔚來第二季業績後的非交易路演,引述蔚來管理層重申對今年下半年銷量目標10萬輛,即今年第四季銷量達6.7萬至6.9萬輛。而蔚來於9月初公佈第二季業績中曾表示,預計第三季車輛交付量爲3.1萬至3.3萬輛,按年增約26.8%至35%。 該行引述蔚來管理層指對需求方面非常有信心,NT2.0平臺產品(ES7、ET7和ET5)訂單非常強勁,可支持公司下半年達到銷量目標。公司管理層指引將推售的ET5至今年12月的月交付量可達到超過1萬臺。該公司表示,ET5將是新園區工廠(F2)的第一款產品,初始月產能爲每月1萬臺。另外,蔚來目前工廠(F1)的月產能爲每月1.5萬至1.8萬輛。 蔚來管理層料今年第三季度的毛利率按季將可改善。該公司重申了NT1.0平臺產品毛利率達18%、以及NT2.0平臺產品毛利率目標可達25%。此外,蔚來重申2023年第四季度的季度盈虧平衡指引,屆時其季度銷量將達到10萬至12萬輛,毛利率約爲20%。
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