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《大行報告》花旗料玖紙(02689.HK)可受惠內地「618」電商節 紙品可進一步再加價
阿思達克 06-09 15:53
玖龍紙業(02689.HK)午後股價搶高4.2%,理文造紙(02314.HK)亦揚1.8%。花旗近日發表報告表示,玖龍紙業宣布旗下所有瓦楞紙平均售價已上調每噸售價50元人民幣,此為東莞及太倉今年以來塗佈白板紙(coated duplex board)售價首次上調,此舉動顯示海外市場求呈改善,並相信美國經濟復甦似優於預期。

該行表示,在行業中喜愛玖龍紙業,指公司屬高槓桿的瓦楞紙製造商,予「買入」評級及目標價10.5元;予理文造紙「沽售」評級,指其紙巾業務會令毛利率受壓,予目標價5.5元。

花旗認為,由京東(09618.HK)創辦的「618電商節」屬中國近年重大促銷活動,阿里巴巴(09988.HK)旗下天貓及淘寶亦會參與,相信玖龍紙業未來將有進一步加價的空間,指公司目前庫存約50萬噸,相當12天的庫存量,已低於一般庫存100萬噸水平。「618電商節」並非只有一天銷售,京東已率先於5月24日至31日展開預售,而該電商節於6月20日才會完,料可推動相關紙品售價進一步上升。

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