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華興資本:聯易融(09959.HK)沽空報告無的放矢 維持「買入」評級
華興資本發表研究報告指,近期有沽空報告針對聯易融(09959.HK),指控後者低報了對物業發展商的敞口及槓桿,同時誇大了技術創新。聯易融反駁所有指控,該行指同意沽空報告內容不實,維持予公司「買入」評級,以現金流折現率計,目標價30.47元。

報告稱,聯易融產品改善營運效率,並促進了供應鏈金融生態系統中不同持份者之間互相信任。加上領先行業技術及廣泛客戶基礎,加快了客戶工作流程數碼化步伐。報告稱,公司亦澄清所有沽空報告所列關連交易屬附屬之間系內交易,毋須在綜合報表中列出。公司指自2016年成立以來未有轉換核數師。部分附屬採用其他核數師,但這是行業慣例。

華興資本補充,沽空報告指控聯易融超越法規槓桿限制,但該行留意到沽空報告所列負債比率計算方法並不準確。

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