中信證券:比亞迪Q3業績符合預期 車型放量迎盈利拐點
格隆匯10月30日丨中信證券研報指出,比亞迪2021Q3實現歸母淨利潤12.7億元,同比-27.5%,環比+35.6%;扣非歸母淨利潤5.2億元,同比-67.2%,環比+15%,業績符合預期。2020年5月發佈的旗艦轎車“漢”超預期熱賣後,銷量穩定,成功實現品牌升級。2021年1月發佈的DM-i系列主打低價格、低油耗、高配置的“不可能三角”,口碑發酵下銷量逐月向上。2021年8月發佈的“海豚”增厚產品矩陣,後續還有“海鷗”“海豹”“海獅”等“海洋系列”車型值得期待,料將推動車型週期繼續向上。此外,公司中性化戰略穩步推進,比亞迪半導體上市申請於2021年7月獲受理,動力電池外供加速、儲能電池出貨提升,供應鏈價值凸顯。
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