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研報掘金丨交銀國際:寧德時代全年盈利表現強勁,維持“買入”評級
格隆匯 03-19 14:07

交銀國際研報指出,寧德時代(300750.SZ)2024全年收入和淨利潤基本符合業績預吿和我們的預期。公司全年盈利表現強勁,高分紅彰顯發展信心。電池行業進入補庫週期,公司作為行業龍頭有望受益。維持“買入”評級和314.11 元目標價。2024年公司動力和儲能合計出貨474GWh,同比+22%,動力/儲能分別為381GWh/93GWh,同比+19%/+35%。分紅方面,2024年公司分紅253.7億元,佔全年歸母淨利潤的50%,彰顯公司發展信心。儘管近期美國對中國產品加徵額外關税,但寧德時代在美國技術授權產能有望在2026 年釋放,從而對沖關税的擾動。

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