大行评级丨德银：微升敏实集团目标价至42.3港元，料铝价上升对毛利率影响有限

格隆汇07-29

德意志银行发表研报指，欧洲新能源汽车市场上半年表现强劲，上半年欧洲新车注册量同比增长逾6%，其中纯电动车同比大增35%，考虑到敏实集团大部分客户为欧洲车厂，预期其铝电池壳体业务与欧洲电动化趋势高度相关，随着欧洲新能源汽车销量增长，估计敏实上半年电池壳业务收入可同比增长33%，推动整体收入同比增长9%。虽然铝等原材料价格上升，但德银相信，往绩显示敏实有能力管控原料价格波动的相关影响，2020至...

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