蒙牛(02319.HK)吐逾半成失10天線 高盛引述高管指下半年核心營運毛利率擴展未達標
高盛引述蒙牛乳業(02319.HK)高管透露今年下半年核心營運毛利率擴展幅度未達標,該股扭四連漲,今天一舉跌破50天、100天、20天及10天線(30.77-31.53元),最低見30.3元,現造30.6元,急吐5.6%,為最傷藍籌,成交已較昨天全日急增1.7倍至1,869萬股,涉資5.75億元。
高盛引述蒙牛投資者關係經理吳柳英昨日於該行在深圳舉行中國投資論壇中透露,集團今年下半年銷售同比增長與上半年水平相若,但核心營運毛利率擴展幅度小於公司原定同比擴大50個基點目標,主要受累於原奶價格下半年按年漲8%,因為據蒙牛指原奶價格每升2%,會將對集團毛利率構成60個基點負面影響。管理層展望第四季,基於原料成本上升,料公司毛利率會受壓,將會控制銷售成本、綜合開銷及行政管理費用,但可能不足以完全滿足原定毛利率擴展目標。不過,無論如何,公司料營運水平銷售增長仍然穩固管理層料明年銷售目標或有雙位數字增長,毛利率持續擴張,基於原奶價格上升預期,公司會採取更嚴格推廣投資。高盛維持蒙牛「中性」評級及目標價31.4元(相當明年預測市盈率24倍)。
相反,同業現代牧業(01117.HK)回升12.5%報1.26元,成交急增至1,375萬股。H&H國際(01112.HK)續升4.5%報33.55元,股價升破50天線(32.04元),成交141萬股,已接近昨天全日成交量。
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