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研報掘金丨方正證券:宇通客車Q2業績創歷史新高,首予“推薦”評級

方正證券研報指出,宇通客車(600066.SH)二季度業績創歷史新高,出海征程持續加速,首次覆蓋,給予“推薦”評級。Q2公司出口銷量3,902輛,環比+50.2%,其中新能源出口735輛,環比+65.5%,帶動24Q2淨利率提升至10.5%,同比+5.8pct、環比+0.5pct,淨利額創歷史單二季度最佳水平。根據Sustainable BUS,2023年公司在歐洲電動客車市場市佔率達7.6%,保持領先優勢,該行認為,公司已實現歐洲新能源客車市場突破,有望持續受益於當地客車需求修復及電動化趨勢,帶動盈利端持續提升。

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