---
title: "《大行》里昂升宁德时代目标价至 685 元  利润率持续扩张"
description: "里昂报告指出，宁德时代在 2025 年第三季度实现盈利同比增长 41%，环比增长 12%，毛利率提升至 25.8%。因此，里昂将其 H 股目标价上调至 685 港元，A 股目标价升至 500 元人民币，并重申对 H 股的「跑赢大市」评级。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/261975984.md"
published_at: "2025-10-21T03:56:32.000Z"
---

# 《大行》里昂升宁德时代目标价至 685 元  利润率持续扩张

> 里昂报告指出，宁德时代在 2025 年第三季度实现盈利同比增长 41%，环比增长 12%，毛利率提升至 25.8%。因此，里昂将其 H 股目标价上调至 685 港元，A 股目标价升至 500 元人民币，并重申对 H 股的「跑赢大市」评级。

里昂报告指，宁德时代 (03750.HK) 再创亮眼季度表现，2025 年第三季度盈利按年增长 41%，按季增长 12%，符合市场上修後的预期。毛利率按季再扩张 0.2 个百分点至 25.8%，缓解市场对该季度锂成本飙升带来利润率压力的担忧。

里昂将宁德时代 H 股目标价从 670 港元，上调至 685 港元；宁德时代 (300750.SZ) A 股目标价由 490 元人民币升至 500 元人民币，并重申对宁德时代 H 股「跑赢大市」评级，A 股评级则为「高度确信跑赢大市」。

### Related Stocks

- [03750.HK - 宁德时代](https://longbridge.com/zh-CN/quote/03750.HK.md)
- [300750.CN - 宁德时代](https://longbridge.com/zh-CN/quote/300750.CN.md)

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