The bank pointed out that as the world's leading mobile phone brand, the company actively promotes the high-end strategy and international expansion. It is estimated that the sales volume of high-end mobile phones in 24 years will increase by 43% year-on-year; In 24 years, the major appliance business has entered a new growth stage, with broad room for growth; Internet business is expected to continue to grow steadily; The gross profit margin performance of the automobile business continues to exceed expectations. In 24 years, all full-year goals such as full-year delivery, smart driving technology, and sales network have been successfully completed. With the continuous improvement of the subsequent model matrix and the synergy of the ecological chain, the company is expected to become the first echelon of new domestic forces, and strive to march towards the goal of becoming the top five car manufacturers in the world in 15-20 years.
The bank predicts that the company's total revenue in 24/25/26 will be 3567/4624/565.3 billion yuan, and the net profit attributable to the parent company will be 200/306/38 billion yuan. The current market value corresponds to a PE of 38.9/25.4/20.5 times; The adjusted net profit is 247/346/42 billion yuan, and the current market value corresponds to a PE of 31.6/22.5/18.5 times. Maintain the "strongly recommended" rating and be optimistic about the company's medium and long-term market value growth.
Comments