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研報掘金丨國泰君安:江淮汽車輕裝上陣後經營拐點將至,維持“增持”評級

國泰君安研報指出,江淮汽車(600418.SH)23年歸母淨利扭虧為盈,扣非虧損收窄,輕裝上陣加速轉型,維持增持評級,下調目標價至20.60元。公司電動化轉型加速,燃油車包袱逐步出清,輕裝上陣後經營拐點將至。公司全面聚焦新能源業務,通過自主合資合作等多重方式佈局新能源,牽手大眾、華為等有力夥伴,2024年開始全新車型陸續上市,新能源進入收穫期,打開公司成長空間。另外,公司乘用車業務經歷了多年調整,燃油車歷史包袱逐步出清,電動化智能化全面聚焦華為智選車項目,攜手有力合作伙伴瞄準豪華智能電動市場,考慮豪華電動車市場優質供給相對空白以及問界的成功經驗,本次合作的全新華為智選車值得期待。

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