研報掘金丨光大證券:江淮汽車業績承壓 關注尊界上市後邊際變化
光大證券研報指出,江淮汽車(600418.SH)2024年及1Q25業績承壓。判斷4Q24受銷量下滑+投資虧損(4Q24對聯營和合營企業投資虧損9.1億元)拖累公司業績表現;1Q25公司業績持續承壓。鑑於公司投資虧損加劇2025年仍有待修復,下調公司2025年歸母淨利潤預測66%至1.9億元;2026年隨大衆新平臺車型逐步量產+尊界後續車型上市公司盈利能力有望恢復,上調公司2026年歸母淨利潤預測71%至17.3億元;新增2027年歸母淨利潤預測25.4億元。建議關注。
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