《大行》花旗:向供應商60天付款影響車企利息收入 對零跑(09863.HK)、吉利(00175.HK)影響較大
內地要求汽車生產商60天內結清與供應商的大部分款項,以解決供應鏈因長期付款期限而面臨的挑戰,多間車企承諾60天內向供應商付款。花旗發表報告,對汽車製造商及汽車零部件企業的現金變化進行敏感性分析,以評估有關影響。
報告估算比亞迪(01211.HK)、理想(02015.HK)、小鵬(09868.HK)、零跑(09863.HK)、長安汽車(000625.SZ)、宇通客車(600066.SH)和濰柴動力(02338.HK)淨現金足以完全覆蓋現金減少的差額,但潛在利息收入減少。
該行假設利率為2%,推算對車企今年淨利潤預測負面影響依次為零跑、長安汽車、吉利(00175.HK)、濰柴動力、中國重汽(03808.HK)、賽力斯(601127.SH)、理想、長汽(02333.HK)、比亞迪及宇通客車。
對汽車零部件商今年淨利潤預測正面影響依次為華陽集團(002906.SZ)、星宇股份(601799.SH)、伯特利(603596.SH)、三花智控(002050.SZ)、敏實(00425.HK)、耐世特(01316.HK)、禾賽科技(HSAI.US)、旭升股份(603305.SH)、拓普集團(601689.SH)及福耀玻璃(03606.HK)(600660.SH)。
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