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招商證券:JS環球生活新品推動份額持續擴張,供應鏈不利因素逐步出清,維持強烈推薦評級
格隆匯10月31日丨JS環球生活(1691.HK)日前發佈SharkNinja三季度主要營運數據及九陽三季報,SharkNinja分部單三季度毛收入同比增長11.7%,剔除匯率變動影響毛收入同比增長14.9%。九陽分部單三季度實現收入約人民幣22億元。招商證券發佈點評報吿稱,SharkNinja分部新品研發+份額擴張+區域開拓邏輯持續落地;九陽分部線上內容電商表現亮眼,線下帶動結構升級;不利因素逐步出清,供應鏈壓力有所緩解。預計JS環球生活22-24年分別可實現營業收入52億美元、58億美元及63億美元,同比分別增長1%、10%及10%;分別可實現歸母淨利潤3.6億美元、4.1億美元及4.7億美元,對應PE分別為8.9倍、7.7倍及6.7倍,維持“強烈推薦”投資評級。
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