【美银证券下调雅迪目标价至14.9港元 下半年度初步业绩远逊预期】金十数据12月30日讯，美银证券发表报告指出，雅迪(01585.HK)今年纯利介乎12亿至14亿元人民币，按年跌47%至55%，远逊该行预期的20亿元人民币及市场预期，并意味着下半年纯利约1.66亿至3.66亿元人民币，按年跌75%至89%。该行认为，雅迪今年下半年的产品均价及毛利恶化情况超出预期，或由于在渠道去库存过程中，价格折扣扩大和对经销商的回扣增加；公司未积极推出新型号，冠能系列产品的销售贡献减少；每辆车固定费用的分摊(如店铺翻新补贴)增加；持续投资于新产品研发和海外扩张；政府补贴按年有所减少。美银证券将雅迪2024至2026年每股盈利预测各下调36%、2%及2%，目标价由15.2港元下调至14.9港元，重申买入评级，预期公司明年前景在低基数下更为光明。
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