宁德时代 AH 股齐跌 逾 7%。消息面上，宁德时代昨日公布业绩，前三季度营收4421.37亿元，同比增长56.19%，归母净利润达645.30亿元，同比增长31.60%。营收高速增长叠加产业链投资收益同比增长73.11%，共同构成业绩亮点。与此同时，公司持续加码研发与产能建设，筹资现金流大幅增长，但经营现金流同比下降23.60%，营业成本增速也高于营收增速，增长质量与扩张效率仍值得关注。
第三季度营业收入1652.21亿元，同比增长58.58%，归母净利润212.46亿元，同比增长14.54%，环比则下降5.77%。三季度利润低于市场预期，主要受产品结构变化、出口退税下调及消费税等影响。同期资产减值损失环比增加12亿元，大部分为碳酸锂价格波动带来的存货减值。
摩根大通日前发布研报表示，将宁德时代港股评级由“超配”下调至“中性”，目标价由725港元下调至500港元，理由是担忧重心已从需求转向盈利，行业盈利能力恶化速度可能快于预期，产业链利润正在重新分配。
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