大行評級|里昂:吉利汽車首季盈利能力強勁增長 予其目標價23港元
里昂發表報告指出,吉利汽車發盈喜,預期首季淨利潤介乎52億至58億元,按年增長2.2倍至2.7倍,超出市場預期,但符合該行預期。如剔除20億至23億元的外匯收益,該行預期吉利首季每輛車的經調整淨利潤達4,500至5,000元,相對於去年首季爲3,300元。
該行認爲,吉利的盈利能力強勁增長主要由於電動車銷量的快速增長、規模經濟以及技術升級帶來的成本降低。該行指吉利目前對今年銷量指引271萬輛爲相對保守,另相信公司有望繼續實現強勁的盈利表現,因其於首季銷售已達70.4萬輛,佔全年指引的26%,且公司未來車型計劃前景可觀,能帶來規模效應。該行予吉利目標價23港元,評級“跑贏大市”。
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