《大行报告》汇丰研究下调成实外教育(01565.HK)目标价至1.6元 评级「持有」
汇丰研究发表报告表示,若撇除一次性项目影响後,估计成实外教育(01565.HK)去年下半年核心利润录约1.27亿元人民币,按年下跌26%,按半年计亦下跌近半,主因毛利率大跌、销售开支及财务成本急升所致,更预期该等影响於短期内持续。
该行指,关注公司高杠杆及大额关连交易的问题,下调其2021至2022两财年盈利预测14%至19%,以现金流折现率计,目标价由2.5元降至1.6元,维持「持有」评级。
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