大行評級|里昂:比亞迪匈牙利工廠投產將大幅減低關税的影響 評級“買入”
里昂發表研究報吿指,歐盟初步宣佈對比亞迪的汽車出口徵收17.4%的關税,認為比市場預期更温和。該行對當地經銷商的渠道調查顯示,比亞迪可能會通過加價、減少經銷商獎勵和利潤流失來應對關税。該行予公司“買入”評級。里昂估計,關税對比亞迪2024年盈利的直接影響約為5億元至10億元,佔該行對其純利預測介乎約1%至3%。整體而言,該行認為比亞迪在匈牙利的工廠一旦投產,將大幅減低關税的影響。在盈利方面,預計其銷售額將連續增長,盈利結構也將得到改善。
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