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標普:小米有望捱過芯片荒
阿思達克 11-25 14:14
標普全球評級表示,小米(01810.HK)有望在保持市場地位穩固的同時,捱過芯片荒時期,對小米持評級「BBB-」,展望「正面」。 報告指,芯片短缺衝擊了小米智能手機業務今年第三季業績,這種衝擊可能會在未來兩至三個季度內持續,不過認爲芯片短缺只是暫時性的,且是整個行業面臨的問題,並不會削弱小米競爭優勢,在供應緊張的情況下,小米表現出優先生產高端、高利潤型號產品的能力,將使該公司在高端市場的地位持續上升。 該行維持小米今年收入增長28%至31%及明年增長10%至13%的預測,當中假設明年小米互聯網服務收入的佔比增長將放緩至約15%,預計今年增長15%至19%,中國高端用戶的增加,和海外市場廣告收入的增長,應能推動該業務在明年的增長。 標普認爲,對於數據收集和算法的監管趨緊,或將影響小米將其國內用戶變現的能力,中國經濟放緩以及對某些行業,如在線教育、遊戲和金融科技的監管,可能打擊廣告需求。該行又估計,未來兩年小米在中國市場的智能手機銷量份額將進一步鞏固,在全球市場份額將會維持14%至16%,未計金融服務,預計未來兩年其活躍用戶將貢獻每年11%至16%的互聯網服務收入增長。
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