《大行報告》野村:美團(03690.HK)9月外賣業務復甦步伐較預期慢 但重申「買入」評級
野村發表報告表示,據其渠道調查顯示,9月內地外賣行業較具挑戰,主因由9月1日新學年開始後,許多內地大學都對校園實施了嚴格的禁閉措施,因此包括騎手在內的外人很難進入校園。
該行補充,相信美團(03690.HK)上月外賣業務復甦步代較預期慢,估計其外賣業務收入按年升28%,為公司預期之下限;GTV(整體交易額)按年升33%及變現率按年下跌0.6個百分點,主因抗疫而帶來的額外支出。該行料,季內其外賣業務之非通用會計準則(Non-GAAP)經營溢利按年升51%至5億元人民幣,經營溢利率為2.5%,按年升0.4個百分點。此外,其在店餐飲及新業務表現大致符預期。
報告指,整體而言,該行料美團第三季收入按年升23%至338億人民幣,市場預期約340億人民幣;Non-GAAP經調整淨經營利潤為8.74億人民幣,相對於市場預期介乎8至10億人民幣。該行維持其「買入」評級及目標價為300元。
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.