小摩:宁德时代(03750)第三季度业绩稳健 管理层对明年需求前景乐观

智通财经
Oct 21, 2025

智通财经APP获悉,摩根大通发布研报称,宁德时代(03750,300750.SZ)第三季净利润185亿元人民币,同比增长超40%,按季增长12%,符合该行预期。出货量约为180GWh,但由于储能系统收入确认延迟,仅超165GWh在第三季损益表中确认,同比增长超30%,按季增长逾10%。单位利润保持稳定,符合该行预期。小摩表示,集团管理层对明年需求前景乐观,宁德时代A股仍是该行在中国电池价值链中的首选,而该行对宁德时代H股给予“中性”评级,因其估值看来合理。

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