《大行》里昂:比亞迪(01211.HK)減產可解決過剩庫存 目標161元
里昂研究報告指,日前有報道指比亞迪(01211.HK)正削減內地部分工廠的產能,公司否認,並解釋只是於淡季調整生產,但該行認為有關舉動並不令人驚訝,因比亞迪工廠的每月產能約為50萬輛,而公司最近的產出約為30至40萬輛,並認為減產可幫助公司及整個行業解決過剩庫存。
另外,該行表示在最近的經銷商會議上,公司提出對經銷商補貼金額約為7億元至8億元,當中不包括出口及直銷,低於市場預期的10億元,料或影響次季利潤;現予目標價161元及「高度確信跑贏大市」評級。
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