焦点板块及个股 | 宁德时代;微软;Meta;三星电子

中信证券财富管...
31 Jul

宁德时代 (3750 HK; 426.6港元; 目标价: 535港元) 二季度业绩完美,但H-A价差或难持续宁德时代港股上市后首份季报表现稳健,2Q25毛利率延续1Q25反弹势头持续扩张。尽管公司交出“优异成绩单”,但港股上市至今累计涨幅已达62%,显著反映市场乐观预期,目前45%的H-A溢价在所有A-H两地上市公司历史上都极为罕见、难以维持。我们依然看好公司长期基本面,但短期认为H-A价差存在...

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