《大行报告》里昂上调锦欣生殖(01951.HK)目标价至19.17元 评级「买入」
里昂发表的研究报告指,锦欣生殖(01951.HK)去年收入按年跌13.5%至14.26亿元人民币,经调整溢利按年跌29.8%至3.72亿元人民币,纯利跌38.6%至2.52亿元人民币,毛利率则收窄至39.7%,经调整利润率则降至26.1%。展望2021年,假设跨境业务未恢复,管理层指引收入及盈利增长将超过20%。该行将公司目标价由13.61元升至19.17元,重申「买入」评级。
受惠去年下半年表现明显改善,公司去年内地收入达10.46亿元人民币,按年仅微跌,其中成都收入达7.32亿元人民币,而深圳收入则跌10.8%至接近3亿元人民币,相信是由於封关影响香港客户到访。而美国的收入则跌34.5%至3.8亿元人民币,主要是受疫情及旅游禁令影响。管理层预计今年成都将有15%的增长,而深圳则有20%以上增长,美国业务料有双位数增长,即使假设未恢复通关,集团层面增长亦将逾20%。(el/u) ~
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