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研報掘金丨國金證券:比亞迪Q1業績超預期,維持“買入”評級
格隆匯 04-09 14:33

國金證券研報指出,比亞迪(002594.SZ)預計25Q1實現淨利潤85-100億元,同比增長86.04%-118.88%,超出市場此前的預期。根據業績預告中值的92.5億元作爲當季淨利潤,去除比亞迪電子後,測算公司Q1單車淨利8671 元,環比-7%,表現均超預期。綜合25年以舊換新政策和下半年可能出現的搶裝,預計公司25年經營仍將穩健增長,持續看好。比亞迪作爲新能源汽車龍頭,國內市場經營穩固,成本優勢下競爭優勢明顯,規模效應拉動折舊攤銷利潤釋放,認爲比亞迪已經進入了一箇中期量價上行階段。維持“買入”評級。

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