华泰证券发表研究报告指，零跑汽车(09863.HK) 公司去年营收达321.6亿元人民币(下同)，按年升92%，归母亏损收窄至28.2亿元；单计第四季营收入达134.6亿元，按年升155%，归母净利达8,000万元，符合早前盈喜。
该行指，2025年公司将迎全球化新车周期，叠加渠道端提前布局和下沉，LEAP3.5架构进一步集成降本，预计公司在2025至2027年营收将保持高速增长且毛利率持续提升，今年有望实现全年盈利。维持“买入”评级。
华泰证券将零跑今年至2027年各年新车销售预测上调至60万、80万、103.2万辆，营收则分别为 687亿元、914亿元及1,167亿元；归母净利分别达3.5亿元、20.4亿元及43.1亿元。该行将其目标价由40.96港元上调至71.22港元，维持其评级为“买入”。(ca/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-12 16:25。)
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