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.
一文了解大行於小米(01810.HK)公布業績後最新評級、目標價及觀點
阿思達克 08-26 11:01
小米集團(01810.HK)今早(26日)股價造淡,盤中曾低見24.65元一度跌近2.8%。花旗指小米第二季收入、毛利率及經調整淨利潤均勝預期,公司管理層指部件短缺的挑戰大於來自同業榮耀品牌的競爭,該行料小米第三季手機交付將受部件短缺影響,但料全年仍能交付2億部。 小米昨(25日)公布今年中期業績,收入按年升60%至1,646.71億元人民幣,高於本網綜合18券商預測中位數1,609.61億元人民幣;純利按年升1.41倍至160.61億元人民幣,高於本網綜合12間券商預測上限154.09億元人民幣。按非國際財務報告準則計,經調整淨利潤按年升1.18倍123.91億元人民幣,期內每股盈利0.642元人民幣。 單計第二季,小米總收入按年升64%至878億元人民幣,期內利潤按年升84%至83億元人民幣,經調整淨利潤按年升87%至63億元人民幣。總收入和經調整淨利潤均創單季度歷史新高。在智能手機業務方面,第二季集團收入及出貨量均創歷史新高,次季智能手機收入按年升87%至591億元人民幣,全球智能手機出貨量按年升87%至5,290萬部。同期小米物聯網與生活消費產品業務收入按年升36%至207億元人民幣,互聯網服務收入按年升19%至70億元人民幣,創歷史新高。 【業績勝於預期 觀望部件短缺】 大和發表報告指,小米次季業績明顯勝預期,硬件業務在推廣季節下的毛利率較該行預期佳,且錄得出售投資利潤。該行認為小米爭取市佔策略及銷售渠道表現良好,在近期股價回吐及於內地加強規管互聯網下表現堅韌,小米風險回報愈見吸引,因而上調對小米投資評級,由「持有」升至「跑贏大市」,目標價維持28港元。 美銀證券稱,下調對小米目標價由28港元降至27.7港元,重申對小米「中性」評級。該行上調對小米今年經調整盈利預測7%,但下調明年相關預測2%,以反映中國手機市場的競爭。該行認為公司線下渠道擴張將進一步增加小米在中國的市佔,但每店經營效率,及同業榮耀急速擴張為未來兩大不確定性。 --------------------------------------------- 本網最新綜合5間券商對其投資評級及目標價; 券商│投資評級│目標價(港元) 安信國際│買入│38.8元 瑞信│跑贏大市│35元 花旗│買入│35元 美銀證券│中性│28元->27.7元 大和│持有->跑贏大市│28元 券商│觀點 安信國際│手機業務及海外市場表現強勁 瑞信│次季業績如預期強勁,互聯網業務增長加速 花旗│次季業績勝預期,增長展望仍具說服力 美銀證券│次季實際經營溢利勝預期,手機推動互聯網業務及盈利,關注榮耀品牌競爭及監管風險 大和│業績明顯勝預期
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