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.
大和:百度(9888.HK)收入符預期 評級“買入”
格隆匯 11-18 13:36

大和發研報指,儘管百度的盈利表現略較預期差,但收入仍符合該行的預估。廣吿行業因監管趨嚴前景堪憂,但集團非營銷收入依然呈現強勁增長勢頭。該行將百度2022-2023年收入預測稍為下調2%,每股盈利預測調降14%-17%,以分別反映廣吿收入走弱和未來投資影響;重申“買入”評級,但目標價由240港元微降0.8%至238港元。

報吿提到,百度上季非在線營銷收入按年增長74%,主要受雲及其他AI驅動業務的推動。該行認為,百度在不同場景、行業和地區平穩推動AI發展,同時在多方面發展自動駕駛,管理層預期,集團與吉利(0175.HK)合資企業集度汽車(Jidu Auto)將於2023年下半年開始量產並交付,而百度的無人的士服務Apollo Go由現時在5個城市試運,目標到2025年擴展至65個城市,2030年擴至100個城市,認為上述業務要實現盈利暫時仍言之尚早。

報吿指出,上季在線營銷收入按年升6%,已反映了疫情反彈、內地加強對個別行業的監管的影響,但同時看到百度在開發中國互聯網的正面發展,包括容許集團在社交媒體和電子商務平台上投放更多內容,認為會吸引用户流量,因而令客户投入更多廣吿預算。

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