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《大行報告》中信証券:快手-W(01024.HK)上季業績超預期 流量與商業化有望協同發展
中信証券發表報告指,快手-W(01024.HK)今年第三季降本增效和商業化拓展推進,業績表現強勁,收入利潤超預期,各項業務營收和平台流量保持良好增長,同時利潤率持續優化。隨著公司商業生態委員會內部打通以及流量生態與商業化之間的進一步耦合,預計未來平台電商、廣告、直播等變現生態有望持續向好發展。 中信証券指,作為內地龍頭短視頻平台,快手有望持續優化產品模式、內容戰略及商業化能力;同時隨著公司持續進行組織架構調整和營運效率優化,該行看好公司降本增效戰略推進以及平台生態和商業化的增長動力,未來毛利率、銷售費用率和淨虧損率也有望持續優化。 該行維持快手「買入」評級,目標價65港元。另調整對其2022年至2024年收入預測至929億、1,146億、1,378億元人民幣,原預測各為921億、1,137億、1,369億元人民幣。
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