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《大行報告》野村料美團(03690.HK)次季非通用會計準則淨虧損21億人民幣 優於市場預期
阿思達克 07-19 11:14
野村發表研究報告,預測美團(03690.HK)第二季業績將好過市場預期,收入預期將按年增長13%至493億元人民幣,較市場預期高2%。非通用會計準則淨虧損預期收窄至21億元人民幣,當中非通用會計準則經營虧損預料達到19億元人民幣,主要受核心業務所帶動。 外送業務第二季收入預期按年增長12%,訂單量料增長3%。野村表示,業務收入增長加上公司對補貼和外賣騎手成本的控制措施,預期外送業務的經營利潤可能增長38%至34億元人民幣。 不過,由於疫情嚴重打擊到店業務,次季到店業務收入可能按年下降20%,分部經營利潤料下降25%。另外社區團體預期虧損減少,帶動新業務第二季收入或增長37%,虧損則收窄至約80億元人民幣。 野村維持對美團的「買入」評級及目標價250元,對應2024年預測市盈率36倍。雖然疫情仍存在不確定性,但該行預期中國防疫措施有逐步放寬,相信有助提振第三季市況,預期第三季美團核心業務有望持續復甦,外送業務收入增長料加快至16%。
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