《大行報告》匯豐研究下調阿裏健康(00241.HK)目標價至25元 評級「買入」
匯豐研究發表研報,指出阿裏健康(00241.HK)對廣告、供應鏈及醫療服務業務的投資,或拖累盈利能力,但同時預期平臺第三方傭金分成率提升及母公司阿裏(09988.HK)潛在的資產注入,將是股價潛化劑,維持「買入」評級。
該行指,截至6月底止季度公司收入按年增長約30%至40%,表現落後,但有部分受去年高基數所影響,例如口罩、消毒劑等疫情相關產品,管理層有信心下半年增長會提速;期內錄得輕微虧損,預期未來兩至三年盈利能夠接近收支平衡。
匯豐研究下調阿裏健康未來三年的盈利預測,預期2022及2023年均將錄得虧損,淨虧損料達到516萬及194萬元人民幣,並於2024年扭虧賺4.97億元人民幣,較早前預測賺12.66億元人民幣,下調61%。因應預測下調,該行並將目標價由29元降至25元。
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