智通财经APP获悉，大华继显发布研报称，6月份五大中国汽车制造商销售表现好坏参半，强劲的出口增长抵销了持续的国内疲弱。比亚迪股份(01211)和吉利汽车(00175)凭借海外销售及电动车表现优于同业，而长城汽车(02333)和理想汽车-W(02015)则因国内压力和车型换代影响，销售逊预期。
小鹏汽车(09868)受惠于新车型GX，6月份表现优于预期。然而，2026年上半年整体销量仍然疲弱，前景展望不一：比亚迪和吉利看法正面，但理想汽车和长城汽车则较不明朗。
大华继显维持行业“与大市同步”评级。首选“买入”宁德时代(300750.SZ)、比亚迪、吉利、敏实集团(00425)和赣锋锂业(01772)。比亚迪目标价由120港元上调至135港元; 长城汽车目标价由15港元下调至12港元。首选“沽售”理想汽车，目标价40港元。
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