《大行報告》野村:京東物流(02618.HK)首季盈利勝預期 收入大致符預期
野村發表報告指,京東物流(02618.HK)首季盈利勝預期,收入比市場預期高1%,並與該行估計一致。毛利率按年下降0.9個百分點,比該行估計低0.6個百分點,原因是在1月和2月疫情下,增加了確保產能的支出,例如臨時員工支出。該行予集團「買入」評級,目標價17元。
報告指,京東物流首季非美國通用會計準則下的淨虧損按年收窄18%至7.12億元人民幣,好過市場預期的10億元人民幣虧損,主要是由於非營業收入增加。按業務線劃分,內部收入按年下降2%,而該行估計為按年下降3%。外部綜合供應鏈業務收入按年增長11%,好於該行預期的增長8%。
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