You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》大摩:比亞迪(01211.HK)季績或對股價造成壓力 惟不會引發劇烈波動
摩根士丹利發表報告,指該行估算顯示比亞迪(01211.HK)去年第四季銷量破頂及高端產品組合表現良性,但盈利較第三季高峰下跌,擴大售車折扣及向代理回贈或為主要原因,抵銷上游金屬的成本節省;末季業績或對股價造成壓力,惟料不會引發劇烈波動。今年首季銷量將為市場主要注視的焦點。 該行假設比亞迪電子(00285.HK)以外其他部門對比亞迪盈利沒有顯著影響,推算比亞迪去年第四季每車盈利能力按季減少26%至8,400至8,600元人民幣,對比去第三季每輛介乎1萬至1.2萬元人民幣。 該行指,每車盈利按季收縮應與多項因素有關,包括增加推廣、以及低價冠軍版車款銷售佔比較多導致潛在銷售均價蠶食。另一方面,末季出口銷售佔比按季升1個百分點至10%,以及高端品牌銷售佔比按季升1個百分點至5%,正紓緩銷售均價及盈利率蠶食影響。 該行目前予比亞迪「與大市同步」評級及H股目標價239元。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account