You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行》交銀國際:蔚來(09866.HK)L90精準切中消費者對「大空間+高性價比」痛點 較YU7更具空間優勢
阿思達克 07-14 11:35
交銀國際研究報告指,蔚來汽車(09866.HK)子品牌樂道旗下第二款車型——樂道L90正式開啟預售,整車購買預售價為27.99萬元人民幣(下同)起超預期,採用電池租用服務(BaaS)後更低至19.39萬元起,結合首發2,000元訂金抵扣5,000元車價的優惠,實際BaaS預售價僅為19.09萬元。這一價格在同級別車型中無疑具有極大的競爭力。 該行認為,樂道 L90以卓越空間設計重新定義了大型SUV 的家庭出行體驗。與此同時,輕量化設計讓單電機車型整備質量僅2.25噸,雙電機版2.36噸等,破解了大型SUV純電化的能耗難題。其錯位競爭策略更彰顯市場野心,包括27.99萬元起售價低於尺寸相近的問界M9純電版,較小米YU7更具空間優勢,以性能、配置、價格的多維競爭力衝擊家庭SUV市場。 交銀國際認為,這一策略雖可能衝擊蔚來ES6等內部車型,卻精準切中消費者對「大空間+高性價比」的痛點。隨著7月底上市與8月交付開啟,樂道 L90 有望成為純電大型SUV的破局者,以技術、空間與價格的平衡之道,為家庭出行帶來全新解法。 該行認為,未來市場焦點或在於邊際改善(特別是銷量回升)的可持續性,同時降本效果能否達到市場的預期。交銀國際指,目前蔚來2025年市銷率約為0.6倍,下行空間有限,邊際改善股價迎來短期反彈機會,維持「買入」評級,維持目標價48.96元。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account