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大行評級|麥格理:歐盟加徵關税的明確性令比亞迪在歐盟擴張計劃更積極 評級“跑贏大市”
格隆匯 06-13 13:02
麥格理髮表研究報吿指,歐盟對比亞迪加徵27.4%至48.1%的關税幅度為預期之內,同時預計公司於歐盟市場的每單位毛利率,可能會由29%下跌至14 %。該行認為,比亞迪由2025年下半年起可以透過擴大出口及本地生產,以更積極地進軍歐盟市場。該行表示,比亞迪今年首5個月的銷售增長為27%,高於2024財年預測的20%。並預期歐盟對比亞迪加徵關税的消息,或會為公司帶來部分短期風險,不過投資者仍會於公司股價面臨回調時買入股票。麥格理亦認為,歐盟加徵關税的明確性,令比亞迪在歐盟擴張計劃中變得更為積極。慮及上述因素,該行將比亞迪H股目標價定於276港元,予以“跑贏大市”評級。
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