智通财经APP获悉，花旗发布研报称，认为华晨宝马盈利能力或较预期更具韧性，维持华晨中国(01114)“买入”评级，目标价从4.31港元下调至3.75港元。
该行预计，2025年华晨宝马的销量和利润率将回升，华晨中国管理层透露，去年第三季华晨宝马有一个月生产中断，对产能利用率产生负面影响，拖累全年销量和利润率表现，预期在成本控制措施下，今年销量和利润率将同比改善。
报告中称，计及市场竞争及年初至今不断扩大的零售折扣趋势，将华晨宝马今明两年销量预测下调5%至6%至57.7万及54.1万辆，净利润率预测下调0.2个百分点至6.8%及6.6%。相应将公司今明两年净利润预测下调15%及11%至29亿及27亿元人民币。
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