摩根大通：宁德时代：2025 年第一季度业绩稳健；管理层称尽管有关税影响，需求依然强劲

Asia Pacific Equity Research 15 April 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. CATL Overweight 1Q25 a solid result; management sees strong demand despite US tariffs ▲ 1Q25 results were at the high end of JPMe. Management reaffirmed that order dem ...