大行評級|中銀國際:上調比亞迪電子目標價至39.8港元 指新蘋果核心供應商崛起中
中銀國際發表報吿指,比亞迪電子去年下半年業績符合市場預期,營收按年增長16%,淨利潤按年增長106%。公司指引2024年項目飽滿,將主要專注於捷普的整合、高端安卓和汽車零部件業務的增長機會,在新蘋果核心供應商崛起中。報吿指,比亞迪電子在整合捷普併購方面進展良好,包括進行一系列營運優化以降低成本。在新能源汽車業務(AIS)業務方面,比亞迪電子加速轉型為面向比亞迪集團和外部客户的一級供應商角色,提供全系列電動汽車核心零部件,單車價值不斷提高。該行認為,今年AIS業務的良好營運槓桿應該能夠抵消汽車行業正在進行的價格戰,從而保持毛利率的穩定。中金重申對比亞迪電子的“買入”評級,基於2024年預期每股盈利15倍,將目標價從39.5港元上調至39.8港元,認為最近的市場調整提供了一個很好的入市機會。
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