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《大行》花旗對雅迪(01585.HK)展開90日上行催化觀察 料上半年純利升逾五成
阿思達克 06-05 09:57
花旗發表研究報告,對雅迪控股(01585.HK)展開90日上行催化觀察,料其2025上半年批發量達870萬至880萬台電動單車,符合市場預期,估算首五個月批發量接近700萬台。為反映規模經濟更佳、產品組合改善、產品線精簡以及經營開支效率提高,該行料其上半年每單位淨利潤為180元至185元人民幣(下同),令公司上半年淨利潤達15.7億元至16.3億元,按年增52%至58%。 該行料國家對電動二輪車製造商的額外要求將會淘汰小型製造商,令大型製造商有機會在明年起獲得更大市場份額,規模相當於700萬至800萬台,而雅迪作為行業龍頭料將會受惠最多。予「買入」評級,目標價22.5港元。
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