瑞信:降中国通号(3969.HK)目标价至5.13港元 评级“中性”
瑞信发表报告指,中国通号(03969.HK)今年上半年销售增长8.5%,纯利按年升14.3%至22.68亿元人民币。若撇除逾2亿元人民币的一次性投资收益,集团上半年纯利录得单位数增长。

该行引述管理层称,预期铁路业务可有持续的销售增长,毛利率亦料会恢复正常水平。另外,由于下半年引入集中项目,城市交通业务料将实现稳固复苏。
瑞信对中国通号盈测大致不变,但今年至2021年的每股盈测则分别下调18%、17%及17%,以反映其A股在科创板上市後的股权稀释。该行又下调对集团的股份目标价,由6.48港元降至5.13港元,维持“中性”评级。其现价相当於今年预测市盈率12.4倍,该行认为估值合理。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.