You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行报告》大和降颐海国际(01579.HK)目标价至88.4元 评级「持有」
阿思达克 03-25 16:33
大和发表研究报告指,颐海国际(01579.HK)去年下半年业绩逊市场预期,市场主要关注方便食品产品放缓,及去年下半年产生销售开支高於预期。方便食品如自热小火锅及新产品,去年下半年按年增长仅33%,对销售贡献占比则由前年下半年的25%扩大至27.8%。由於到店用餐防疫限制,去年下半年关连方销售进一步下跌。

报告另称,颐海关连方销售定价压力持续,去年下半年火锅调味品销售均价按年跌7%。不过,颐海去年下半年第三方火锅调味品按年增32%属业绩亮点。

大和引述管理层称,现时未见火锅调味品市场见顶,将专注於产品类别扩张,产品、供应链及销售渠道改善。公司专注於渗透至三、四线城市,由去年开始已利用较低价产品进军此类市场。

报告下调颐海今明两年收入预测8%至11%,下调纯利预测12%至16%,以反映降低毛利率预测1.4个百分点,及上调销售开支预测。以现金流折现率计,目标价由101元下调至88.4元,评级「持有」。

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.
uSMART
Wealth Growth Made Easy
Open Account