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研報掘金丨中金:濰柴動力上半年業績預吿略超預期,維持AH股“跑贏行業”評級

中金公司研報指出,濰柴動力1H24預吿歸母淨利潤同比增長40-60%,略超預期,主要系公司強化落實降本控費措施。1H24公司天然氣重卡發動機上牌量同比+92%至6.7 萬輛。認為受益於燃氣車需求旺盛,公司高價值量高利潤率的天然氣重卡發動機產品銷量佔比提升,疊加強化落實降本增效措施,公司1H24盈利能力增強。展望2H24,預計在“低運價低氣價”背景下天然氣重卡行業景氣度延續,公司NG4.0全新一代天然氣發動機產品逐步起量,有望憑藉產品/技術/產能優勢維持較高的份額與盈利水平。維持跑贏行業評級,維持A/H股目標價20.96元/20.30港元不變。

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