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大和:重申香港科技探索(1137.HK)買入評級 目標價下調至14港元
格隆匯 11-09 12:46

大和總研發表研究報吿指,香港科技探索(1137.HK)10月份總成交金額(GMV)按年升17.5%,按月升11%至6.03億港元,遜預期;每月獨立客户數量按月升8%至53萬名,表現強勁,隨着政府於10月發放第二輪消費券,認為其GMV增長的預測令許多投資者失望。該行重申“買入”評級,目標價由14.5港元下調至14港元。

大和認為,公司2021年全年的GMV或只會達其全年指引660-700億的下限,當中料11月及12月GMV或按年升20%。大和續指,傳統來説,11月公司表現不會強勁,因為淘寶及天貓香港等舉行雙11促銷活動,又預料電視廣播收購的士多Ztore會提升行業競爭。

至於公司的Shoalter業務,公司與I.T。的網上商場EESE.com將於11月開幕,認為其聖誕宣傳將帶動HKTVmall及EESE.com的GMV增長。另外,公司10月27日於將軍澳開設第一家線下超市,將可獲取更多線下流量及推動O2O業務的GMV增長。

該行預期公司今年GMV增長11%,2022年GMV按年增長14%。該行又下調其2021-23年核心盈利預測4-10%。

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