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安踏(2020.HK)一度跳空跌超5% 上半年淨利下滑28.6%
格隆匯 08-26 11:29
格隆匯8月26日丨安踏(2020.HK)今早跳空低開一度跌5.46%,目前跌幅為4.03%,報83.45港元,最新總市值2256億港元。公司昨晚公佈業績,上半年營收146.69億元,同比微跌1%;股東應占溢利同比下滑28.6%至16.58億元;每股派21港仙,不及市場預期;毛利率56.8%,較去年同期增0.7個百分點,創歷史新高,主要得益於FILA營收佔比的提升。分析人士指出,安踏財報日當天公司宣佈將終止與部分分銷商的合作並提高直營佔比。考慮到因收購品牌商的若干資產以及存貨,2H20~1H21的庫存預計依然承壓。但長期來看該舉動利好安踏庫存管理以及門店運營效果的提升。此外,下半年折扣或將有所收窄,預計全年營收錄得小幅增長。業績發佈後,高盛維持對安踏買入評級,目標價由82港元上調至93港元。

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