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寧德時代(03750.HK)逆市升2% 里昂:目前「淡季」是在下一波催化劑來臨前佈局良機
寧德時代(03750.HK)今日(11日)高開0.69%,最高見664.5元。半日收報664元,升2%,成交211.88萬股,涉資13.93億元。里昂發表研究報告,指在參觀寧德時代(03750.HK)位於福建寧德的廠房後,對其前景感到正面,預期市場在2026年下半年至2027年可在多個領域看到更多正面發展,認為目前的「淡季」是在2026年下半年下一波催化劑來...
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寧德時代(03750.HK)逆市升2% 里昂:目前「淡季」是在下一波催化劑來臨前佈局良機
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寧德時代(03750.HK)  +21.500 (+3.300%)    Short selling $468.73M; Ratio 19.068%   今日(11日)高開0.69%,最高見664.5元。半日收報664元,升2%,成交211.88萬股,涉資13.93億元。

里昂發表研究報告,指在參觀寧德時代(03750.HK)  +21.500 (+3.300%)    Short selling $468.73M; Ratio 19.068%   位於福建寧德的廠房後,對其前景感到正面,預期市場在2026年下半年至2027年可在多個領域看到更多正面發展,認為目前的「淡季」是在2026年下半年下一波催化劑來臨前的好機會,重申其「高確信度跑贏大市(HC O-PF)」評級。

該行表示,寧德時代預計其鈉離子電池成本在鋰價為每噸15萬元人民幣下,可較磷酸鐵鋰(LFP)電池低40%至50%,並因成本競爭力而可佔鋰離子電池市場需求的40%,目標在2026年第四季大規模投產。管理層指,公司正與數家美國超大型數據中心客戶合作開發儲能產品(ESS),並已成立專門團隊為全球AIDC客戶設計相關產品,料2026年下半年或有進展。另外,寧德時代正研發固態電池,有望在2027年推出試產產品,料2030年大規模生產。

該行以分類加總估值法(SOTP)為基礎,H股目標價維持820港元。該行假設H股對A股存在25%溢價,寧德時代(300750.SZ)  +2.800 (+0.649%)   A股目標價為570元人民幣。

里昂預計,寧德時代匈牙利第一期產能(35GWh)已於今年投產,料下半年達高峰;第二期(38GWh)建設將於下半年啟動,目標2028年底完成。與福特(F.US)      在美國的合作方面,電動車(EV)部分的新產能料2027年初完成,儲能部分則料於2028年初完成。(ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-13 16:25.) (A Shares quote is delayed for at least 15 mins.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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