东莞证券给予宁德时代买入评级

Group 1 - The core viewpoint of the report is a "buy" rating for Ningde Times (300750.SZ) based on strong financial performance and growth prospects [2] - The report highlights that net profit for the first half of 2025 is expected to increase by over 30% year-on-year, with Q2 net profit showing both sequential and year-on-year growth [2] - The company's profitability remains resilient, with continuous growth in R&D investment [2] Group 2 - Ningde Times is maintaining a competitive edge through innovative products, leading to a steady increase in global market share [2] - The production capacity utilization rate is expected to be nearly saturated in the first half of 2025, with capital expenditures increasing year-on-year [2]