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《大行》里昂:中國儲能新政有利內地電池股 寧德時代(003750.HK)目標價535元
里昂研究報告指,國家能源局最新發布內地儲能政策顯示,2025至2027年間將新增100吉瓦儲能裝機容量,相當於300吉瓦時,當局估算將在3年內帶動2,500億元人民幣投資規模。該行認為政策具有重大意義,表明中國將在未來能源發展中持續推進儲能建設,緩解了市場自今年初取消可再生能源項目強制配儲政策以來的憂慮。 該行認為部分內地電池企業將受惠於政策利好,當中寧德時代(003750.HK)作為全球電動車與儲能電池製造龍頭,預期公司今年盈利增速將加快至按年增長37%;現予H股目標價535港元及「跑贏大市」評級,A股(300750.SZ)目標價390元人民幣及「高度確信跑贏大市」評級。 另外,中創新航(03931.HK)作為全球第四大電動車與儲能電池製造商,該行料2025至2027年的盈利年均複合增長率達76%,予目標價38港元及「跑贏大市」評級。至於瑞浦蘭鈞(00666.HK)為全球第五大儲能電池製造商,該行認為公司正處於復甦軌道,目標價14港元,予「跑贏大市」評級。
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