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《大行報告》瑞信:玖紙(02689.HK)業績略勝預期 輕微上調2022財年盈測
阿思達克 09-28 10:20
瑞信發表報告指,玖龍紙業(02689.HK)業績略勝預期,全年純利71.01億元人民幣,按年升70.4%,主要是由於銷售量和銷售價上升。目標價維持16.8元,評級「跑贏大市」。 瑞信微調對玖紙盈利預期,將2022財年的盈利預期略微上調了3%,以反映更高的銷量和利潤率假設。而通過確保原材料供應,預計玖紙將成爲生產成本上升的主要受益者。 另外,瑞信指,電力限制將影響玖紙短期生產,而供應需求動態將在第4季的旺季改善。自9月初以來,幾家主要的造紙廠已經宣佈因電力使用限制而暫停生產,估計約70萬噸的包裝紙供應將受到影響,約佔9月和10月產量的4%。
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