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郭家耀: 關注聯儲會議紀錄港股料反覆 百勝中國(09987.HK)經營仍富挑戰
阿思達克 02-14 11:03
安里資產管理董事總經理郭家耀稱,美股上周五(11日)顯著急挫,加息憂慮降溫,大市早段反覆靠穩,其後烏克蘭局勢惡化,大市走勢急轉直下,三大指數均錄得顯著跌幅收市。美元走勢向好,美國十年期債息回落至1.93厘水平,金價走勢向好,油價亦顯著急升。港股預託證券普遍向下,預料大市早段跟隨外圍低開。 內地股市上周五下跌,滬綜指高開低走,收市下跌0.6%,滬深兩市成交額略為增加。 港股高位好淡爭持,指數受制於25,000點阻力,大市成交維持清淡。市況繼續受外圍影響,投資者憂慮加息步伐加快,以及烏克蘭局勢進一步惡化,影響環球供應鏈情況。今周市場關注聯儲局議息會議紀錄公布,預示未來加息步伐,加上地緣政局不明朗,大市短期表現繼續反覆,預料指數繼續於24,000至25,000點水平上落。 另百勝中國(09987.HK)公布去年收入98.5億美元,按年上升19%,系統銷售額按年增長10%,同店銷售按年則下降1%。期內經調整淨利潤為5.25億美元,下跌15%,撇除投資股權虧損則增長7%。單看第四季度,撇除投資虧損,經調整淨利潤為1,100萬美元,按年下降93%。季內收入22.9億美元,增長1%,系統銷售額微跌3%,同店銷售則下降11%,主要受到疫情令區域封鎖、出行限制及活動減少的影響。 公司去年在內地新增1,806間餐廳,令總數達到1.17萬間,並計劃今年在內地新增1,000至1,200間餐廳,資本開支約8至10億美元,會推出高性價比及創新食品來刺激銷售,並加大力度推廣非堂食及新零售業務。目前外賣佔公司餐廳收入由2019年約20%,擴至現時的32%,非堂食服務佔銷售已達一半。成本方面,各地面對商品價格、通脹及原材料價格上升,集團會加強採購並提升規模,運用科技和基礎建設以提升經營效率,降低成本壓力。 由於疫情帶來不確定性、消費者信心轉弱及通脹壓力加劇,公司預期今年業務和經營環境依然充滿挑戰,相信需要疫情明顯退卻,加上更多大手刺激消費政策出台,才有望帶動股價重返更高水平。 (筆者為證監會持牌人,沒持有上述股份)~
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