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大行評級|星展:下調比亞迪電子目標價至34港元 汽車電子業務呈上升趨勢
星展發佈研究報吿稱,比亞迪電子目標價由38港元降至34港元,相當於預測市盈率14倍,為歷史平均水平,對今明兩年盈利預測下調9%及3%,以反映智能手機貢獻增加令毛利受壓。該行指出,比亞迪電子直接受惠於母公司比亞迪新能源車銷售,預期比亞迪今明兩年新能源車銷售按年升24%及18%,每電動車電子部件價值同期分別升30%及23%。該行料汽車電子分部今年至2026年收入增長62%、53%及52%,至2026年佔整體收入比重達24%,遠高於去年的11%。蘋果訂單轉移至中國內地供應商情況持續,料公司在iPhone價值鏈市佔增加,也預期人工智能iPhone將支持智能手機高端化,提振比亞迪電子的手機組裝及部件業務。
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