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电子烟业务今明两年贡献不大?比亚迪电子被花旗纳入负面观察

国际新闻 2024-07-13 08:00:08157本站

6月23日消息,花旗发布研究报告称,维持比亚迪电子“买入”评级,预计可实现周期复苏。但鉴于短期内负面影响,对其开展为期90日天的负面观察,并将2022年盈利预测下调5%,目标价26港元。按23日收盘来看,比亚迪电子报收19.76港元/股,总市值445.2亿港元。

花旗指出,市场对比亚迪电子电子烟业务憧憬过早,导致股价大幅反弹。虽然比亚迪已获得电子烟制造商许可证,但目前内需在监管下仍需求疲软,且出口取得进展也需要一段时间。花旗认为该业务今明两年贡献不大。此外,花旗认为现时整个供应链的库存水平很高,预期全行业去库存需时较长。

2020年,比亚迪电子就开始布局电子烟业务。随后,比亚迪电子推出电子烟的核心部件——陶瓷雾化芯。目前,多家品牌与比亚迪电子建立合作关系的,如Airnow空气实验、Maxfel极感、蓝沛、ICE暴雪、V·ZEON唯臻。值得注意的是,这些品牌市场知名度并不高。

除了技术上有所布局外,比亚迪电子也在努力构建自己的专利护城河,但截至目前,电子烟相关有效专利不到20条,与行业巨头思摩尔国际还相差甚远。

电子烟利润诱惑,驱使多个行业龙头公司跨界入局电子烟。如家电巨头创维、天音控股、立讯精密、金城医药等。(文 | 天宇)

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