Market Brief

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黃萬里先生 (Man Wong)
高級交易員

現於輝立証券任職交易員,擅長由上而下,縱觀經濟大勢,再結合技術及基礎分析,研究版塊及個股走勢。 本人認為,要於動盪的市況,持續取得優秀的成績,除了取決於投資策略及工具是否運用得宜,投資者的個人心理質素,是更為關鍵的因素。 歡迎各位來電或WhatsApp,交流港股、期貨、期權及其他衍生工具的投資心得。
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比亞迪股份有限公司 - H股 (1211)

Tuesday, June 25, 2019 Views992
業績
比亞迪公佈,至2019年3月底為止的季度業績,純利為7.5億元人民幣,按年升6.32倍,每股盈利為0.25元。期內營業收入為303.04億元,按年升22.5%。

業務概況
公司預期,上半年純利升202.65%至244.4%,主因預計第二季度集團新能源汽車持續熱銷,新能源汽車銷量及收入繼續保持強勁增長,帶動集團收入及盈利持續快速提升。

國策動向
發改委於6月6日印發《推動重點消費品更新升級 暢通資源迴圈利用實施方案(2019-2020年)》文件,當中主要內容在以下要點:
加快新一代車用動力電池研發和產業化,引導企業創新商業模式,推廣新能源汽車電池租賃等車電分離消費方式,降低購車成本。 
認真落實國務院常務會議精神,各地不得對新能源汽車實行限行、限購,已實行的應當取消。
對農村居民報廢三輪汽車,鼓勵購買 3.5 噸及以下貨車或者 1.6 升及以下排量乘用車,積極發揮商會、協會作用,組織開展“汽車下鄉”促銷活動,促進農村汽車消費。
推動城市公共領域車輛更新升級,加快推進城市建成區新增和更新的公交、環保衛生、郵政、出租、通勤、輕型物流配送車輛使用新能源汽車。
聚焦續航里程短、充電時間長等痛點,借鑒公共服務領域換電模式和應用經驗,鼓勵企業研製充換電結合、電池配置靈活、續航里程長短兼顧的新能源汽車產品。

評論
比亞迪首季及預計首半年的業績都有大幅增長,而且適逢國策再鼓勵發展新能源汽車,比亞迪會直接受惠。於6月6日政策公佈當日,其股價已直接反映利好因素。
唯市況未穩,更兼社會動盪,其股價亦隨之回落至政策公佈前。

交易策略
比亞迪於本跌浪的浪底是44.3,可以此為此蝕位,SMA 10及SMA 20之間是個不錯的買入位,目標價先以跌浪反彈的50%,即52.2。

買入價:46.1
目標價:52.2
止蝕位:44.3

本人為證監會持牌人士。截至本評論文章發表日止,本人及或其有聯繫者並無持有全部提及之證券的所有相關財務權益。
This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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