Tiger Brokers

研报掘金丨华泰证券：上调中国重汽目标价至49.71港元，内销稳定复苏，看好出海高增

格隆汇
Sep 07
华泰证券发表报告，引用第一商用车网最新重卡数据指，内地8月重卡行业出口销量预计同比增长逾35%，海外市场持续贡献行业增量，中国重汽作为出海龙头有望充分受益。公司2026年上半年实现营收708.4亿元，同比升39.2%；归母净利润43.3亿元，同比升26.2%，公司内销稳定复苏，看好其出海高增；公司宣派中期股息1.02元，派息比例达65%。 考虑到国内市场稳定复苏，非洲和东南亚需求旺盛，公司出口及总销量有望进一步提升，该行上调2026至2028年归母净利润预测至91亿、99亿及109亿元，分别较此前上调14%、17%及21%。该行给予公司2026年13倍市盈率(前值15倍)，目标价由48.83港元升至49.71港元，维持“买入”评级。

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