智通财经APP获悉，瑞银发布研究报告称，维持中升控股(00881)“沽售”评级，在有关战略公布后股价累升约40%或增加120亿元市值，相信市场对AITO门店给予过高估值，上调对中升目标价，由8.2港元升至9.4港元。
报告中称，中升与赛力斯(601127.SH)签署战略合作协议，目标在授权分销模式下营运华为AITO问界专门店，目标在明年1月开始营运。管理层指引问界汽车佣金率为4.5%，公司亦将提供相关售后、汽车金融及保险服务。
该行指出，即使计入AITO门店的贡献，不预期中升盈利显著反弹，基于德国三大车企奥迪、宝马及奔驰的零售折扣于上月升至历史高位，传统高端品牌在中国的吸引力下降，受中国品牌竞争力提升及奔驰及凌志车款老化影响。此外，新能源车亦长期影响中国汽车售后市场，该行研究指代理商及独立售后服务商受影响，主要基于内燃车辆使用里程下降。该行料中升售后服务在今年及往后收入增长为单位数。
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