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摩通:中國控制產能過剩政策或提振股市
摩通發表報告指出,若中國在控制產能過剩的政策上執行得當,有可能會對股市及全球貿易產生正面影響,預計一些新能源汽車及房地產的龍頭公司將較為受惠。 報告稱,中國的產能過剩已經損害企業的利潤率及估值,目前中國的產能利用率約為74%,落後於美國及歐盟,預計中國控制產能過剩的政策或能緩解通縮壓力、提高利潤率,以及抑制中國廉價出口,這將有助於減少貿易摩擦。隨著產出減少,汽車、化學、建築材料、金屬以及採礦相關行業的淨利潤率預計將有所提高。 摩通估計,寧德時代(03750.HK)(300750.SZ)、寶山鋼鐵(600019.SH)、璞泰來(603659.SH)、中國鋁業(02600.HK)(601600.SH)、龍佰集團(002601.SZ)及恆力石化(600346.SH)可能因行業整合而受惠。
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