Market Brief

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Author

梁文軒先生 (Eddie Leung)
助理經理

現任職輝立助理經理,對投資股票、期權經驗豐富。本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
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小鵬汽車有限公司 - W (9868)

Monday, October 25, 2021 Views8083
小鵬汽車(9868)
 
公司業務

主要於中國從事設計、開發、製造及銷售智能電動汽車,以及提供相關的售後服務及維修保養。特點為支援第3級自動駕駛技術和互聯網應用,如車內軟件可通過OTA形式更新。2021年4月,小鵬汽車發佈緊湊型轎車P5,配備大疆創新製造的激光雷達。 今年新廠房落成及產能率提升,有利汽車交付量及增加毛利。

2021年上半年度,集團營業額增長5﹒7倍至67﹒12億元(人民幣;下同),股東應佔虧損收窄4﹒6%至19﹒81億元。期內業務概況如下:
 (一)期內錄得毛利7﹒78億元及毛利率11﹒6%;
 (二)汽車銷售額增長6倍至63﹒95億元,佔總營業額95﹒3%;期內汽車交付量增長4﹒6倍至30﹐738輛;
 (三)服務及其他收入增長2﹒5倍至3﹒17億元;
 (四)於2021年6月30日,集團的實體銷售和服務網絡包括200間門店和64個服務中心,覆蓋74個城市;
 (五)於2021年6月30日,集團之現金及現金等價物、受限制現金、短期存款、短期投資及長期存款為328﹒71億元,長期借款為15﹒96億元。槓桿比率(債務總額除以權益總額)為4﹒9%(2020年12月31日:5﹒3%)。

參考資料來源:
www.etnet.com.hk

目標價: $180元

建議買入價:$161.2元

止蝕位:$152元


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This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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