比亞迪 (1211 HK) 出口市場具爆發潛質 January 16, 2023 55

PSR Recommendation: BUY Status: Maintained
Target Price: HKD328

投資概要
銷量強勢延續,提前達成目標
比亞迪 12 月的汽車銷量 23.5 萬輛,同比+150%(已是連續十二個月錄得三位數增
幅),遠高於國內新能源車的整體漲幅(+47%),環比+2%,其中純電 11.2 萬輛,同
比+132%,環比-2%,插電混 12.3 萬輛,同比+176%,環比+6%。
全年新能源乘用車銷量累計 186.3 万輛,同比+208.64%,超额完成 150 萬台的年度銷
量目標。其中純電動累計+184%,插混累計增速 247%。在刀片電池、DM-i 超級混動、
e 平臺 3.0 和 CTB 電池車身一體化等技術的基礎上,公司丌斷推出的新品競爭力顯著,
在終端市場呈現供需兩旺的格局。

About the author

Profile photo of Zhang Jing

Zhang Jing
Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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