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《大行》匯豐研究升中國重汽(03808.HK)評級「買入」升全年行業重型卡車國內銷量預測
匯豐研究發表報告指,受補貼推動重型卡車(HDT)行業銷量自4月以來連續強勁,超出該行預估,將全年重型卡車國內銷量預測從65萬輛上調至70萬輛,意味下半年增長30%。 該行將中國重汽(03808.HK)評級由「持有」升至「買入」,以反映因銷售強勁,目標價由26元上調至28.2元;維持濰柴動力(02338.HK)「買入」評級,目標價由18.7元上調至19.5元。 該行指,上半年電動卡車滲透率從2024年的14%升至19%,預計到2030年電動卡車滲透率將升至40%。經過電動卡車激烈價格競爭後,年內至今市場份額及定價更穩定。 該行預計中國重汽全年重型卡車銷量和淨利潤分別增長16%和13%。濰柴動力方面,預計陝汽銷量和淨利潤按年分別增長19%和18%,濰柴重型卡車引擎業務銷量和淨利潤則下降1%和5%。
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