《大行報告》瑞信下調中建材(03323.HK)目標價至8.7元 評級「跑贏大市」
瑞信發表報告指,中國建材(03323.HK)第三季業績略遜預期。中國建材預計9月止九個月權益持有人應佔利潤將較去年同期下降約50%。即意味第三季盈利為13億人民幣,按年下降76%。公司將盈利的下降歸因於水泥、混凝土和新材料的銷售量下降;煤炭價格上漲導致成本增加;以及金融資產的公允價值大幅下降。
報告指,由於淡季價格下跌和成本增加,預計第三季每噸毛利將收窄。但隨著水泥價格在旺季逐漸向上,預計第四季的利潤率將按季改善。該行估計公司首九個月的銷售量將按年下降約15%。新材料業務將繼續支持整體盈利能力。目標價由9.8元下調至8.7元,評級「跑贏大市」。
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.