Is Changan Automobile Stock Worth Investing?
Changan Automobile released its performance forecast for 2020, and it is expected to realize a profit of 2.8-4 billion yuan for the whole year, turning losses into profits. The company issued a production and sales announcement, and sold 250,000 vehicles in June 5438+ 10, including YOY+87.2% and MOM+25.6%. The sales performance of independent brands can be described as brilliant. In 20021year, the company's product matrix will be continuously improved, and the products will gradually move towards high-end and electrification. The company improves the quality of assets by increasing and accruing impairment, which helps the company to achieve its growth goals better. We estimate that the company's net profit in 2020, 20021year and 2022 will be 3.46 billion yuan, 4.55 billion yuan and 5.25 billion yuan respectively, and the net profit growth rate in 20021year and 2022 will be 32% and 15.6% respectively. The EPS is 0.64 yuan, 0.85 yuan and 0.98 yuan respectively, and the PE in 202 1 and 2022 is 20.9 times and 18 times respectively. Suggest "buy". In 2020, the company's net profit turned into profit: the company released the performance forecast for 2020, and estimated that the annual return-to-school profit was 2.8 billion-4 billion yuan, equivalent to earnings per share of 0.52-0.75 yuan (net loss after deducting non-profit was 2.6 billion-3.8 billion yuan), and the company's performance was lower than expected. In the quarter, the company's Q4 estimated net profit range is 690 million yuan to 565,438+0,000 yuan (the estimated net loss after deducting non-profit is 500 million yuan to 654,38+0.7 billion yuan), and the estimated EPS range is-0.65,438+03 yuan to+0.65,438+0 yuan.