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港股異動 | 思摩爾盤中漲超9%創新高,大客戶悅刻零售網絡快速擴張
uSMART盈立智投 01-04 11:15

uSMART盈立智投1月4日消息,週一港股早盤,思摩爾國際盤中漲超9%,最高觸及65.9港元,股價創上市新高。

中信證券此前發佈研報稱,大客戶悅刻高成長、公司獨家供應陶瓷芯份額持續提升,有望提振公司業績預期及估值。公司是類菸草產業鏈核心供應商,競爭壁壘深厚,中短期有望充分享受全球新型菸草成長紅利,長期霧化場景擴張有望接力成長,堅定看好,維持"買入"評級。

中信證券認爲公司除了具備消費電子代工廠的屬性,更重要的是類菸草產業鏈核心供應商的屬性。菸酒類產業鏈終端產品形態穩定、定價體系穩定向上,供應鏈各環節利潤豐厚且利益空間穩定,較高淨利率及ROE具備合理性。隨收入結構變化及自動化水平大幅提升,公司淨利率有望持續上行,ROE理性回落但仍有望維持在較高水平。

風險因素:顛覆性霧化技術路徑的替代;行業監管程度超預期;新型菸草產品處在提稅通道。

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