智通财经APP获悉，耐世特(01316)再涨超3%，截至发稿，涨3.32%，报5.91港元，成交额4433.88万港元。
华泰证券发布研报称，24年耐世特实现经调整EBITDA4.2亿美元，同比增长22.5%，其中24H2盈利呈明显改善趋势，经调整EBITDA达2.3亿美元，对应利润率回升至10.4%，同环比+2.8/1pct，或系重组/供应商停工等问题解决、亚太业务占比提升，及海外成本管控加强、经营效率提升。向后展望，该行认为公司通过中国常熟工厂投产后进行本地化供应、部分产能向低成本的墨西哥转移、采购降本等手段，盈利能力有望继续修复。期间费用方面，24年公司研发/销售/管理费率分别为4.2%/0.5%/3.4%，同比+0.6/+0.03/+0.2pct。
该行续指，24年公司在线控转向产品上取得突破性进展，分别赢得全球及中国领先新能源OEM的SbW订单，并首次获得后轮转向项目，计划搭载于中 国新能源OEM，并有望于26年实现量产。25年线控转向法规落地，L3高阶智驾催化下赛道有望进入快速发展期，公司在线控转向领域的规划量产和订单获取进程领先，26年相关业务即有望迎来放量，成为重要增长动力。
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