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《大行報告》花旗下調阿里健康(00241.HK)目標價至10元 評級「買入」
花旗發表研究報告指,阿里健康(00241.HK)2022財年收入按年增長32.6%,符該行及市場預測。期內淨虧損為2.66億元人民幣,扣除一次性收益後,淨虧損將擴至8.09億元人民幣,主要來自金融資產公允價值變動的影響。 由於低毛利率的直銷業務收入佔比提升,令整體毛利率按年降3.3個百分點至20%。管理層預期2023財年收入將按年增長超過20%(原先預期為30%),並實現收支平衡。 花旗表示,疫情下阿里健康的直銷和平台業務增長放緩,因此將2023及2024財年的收入預測下調各7%,考慮到業務增長放緩的趨勢,將目標價由20元下調至10元,維持「買入」評級。
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