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《大行報告》中金首予中國中免(01880.HK)「跑贏行業」評級 目標價238元
中金髮表研究報告指出,內地免稅購物市場於2017至2019年(疫情前)的年均複合增長率達29%,增長穩健,而2019至2021年離岸免稅購物銷售額的年均複合增長率達83%,主要歸功於2020年出臺的利好政策。該行預期,2025年消費者由海外轉至內地消費,金額或涉及約2,500億元人民幣,主要由於內地本土免稅店的價格優勢,以及刺激政策出臺。該行相信,離岸、機場及市中心的免稅購物市場將迎來巨大的增長潛力。 該行首次覆蓋中國中免(01880.HK)H股,予「跑贏行業」評級,目標價238元,相對2023財年預測市盈率28倍。料公司2022及2023年的每股盈利分別爲3.73元人民幣及7.13元人民幣,2021至2023年的年均複合增長率24%。(jl/U)~
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