里昂发表研究报告指，零跑汽车(09863.HK) 首季收入100亿元人民币，毛利率达14.9%并胜于预期，受惠于规模效益、与Stellantis(STLA.US) 技术合作，以及产品组合改善。
该行预计，计及将于次季推出的新车型，集团的月销售量将超过5万辆。因此，里昂对其2025财年的销售预测调升至55万辆。该行上调对其今明两年收入预测分别11%及2%，但降明年盈测，因市场竞争加剧；以预测明年市销率一倍计(较同业均值存10%溢价，反映较佳盈利能力及增长前景)，将集团目标价由54元上调至72元，重申“跑赢大市”评级。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-19 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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