長城汽車 (2333 HK) 銷量同比高增,盈利能力逆勢走强 July 26, 2021 65

PSR Recommendation: ACCUMULATE Status: Maintained
Target Price: HKDHKD36.20

投資概要
上半年業績亮眼,盈利同比增長 205%
業績快報顯示,長城汽車 2021 年上半年營業收入 621.6 億元,同比增長 73.0%;實現
歸母淨利潤 34.98 億元,同比增長 205.2%;實現扣非歸母淨利潤 28.3 億元,同比增長
252.8%。
分季度來看,Q1/Q2 分別實現營收 311.2/310.42 億元,同比增長 150.62%/32.02%,實
現歸母淨利 16.39/18.59 億元,同比增 352.2%/3.51%,扣非歸母淨利潤 13.35/14.96 億
元,同比升 278%/减 3.6%。業績增長的主要原因來自于整體車型銷量的增加,産品結
構的上移,引發的盈利能力的提升。

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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