《大行報告》星展引述維他奶(00345.HK)指加價後迎行業價格競爭 將加大廣告及營銷支出
星展發表報告指出,在中國重新開放的推動下,預計中國將成為維他奶(00345.HK)收入增長的主要驅動力,對其2024及2025財年中國收入增長預測各為12%及11%。香港、澳洲和新西蘭等其他市場未來或會實現大致在低至中單位數的穩定增長。該行估計集團2024及2025年的收入增長8.7%及8.3%。
該行引述維他奶指,公司在中國的戰略目標在於專注三大支柱的發展,包括執行、擴張和創新,並希望繼續在內地提高滲透率,而產品創新仍是提升公司品牌組合形象的關鍵。由於過去幾年受疫情影響,公司在社交媒體或一般廣告中的知名度並不高。今年迄今,公司已推出一系列活動以提高其整體品牌形象和與消費者的互動。展望未來,公司正尋求加大對廣告及廣告支出的投資。
此外,該行指維他奶於去年10月22日上調平均售價後,於今年1至2月份期間迎來行業價格競爭加劇,對公司銷售造成一定影響。該行維持對維他奶「持有」評級,目標價由14.4元下調至13.6元,基於廣告及促銷費用,與相對高企的大宗商品價格對毛利率的影響,將公司2024財年盈利預測下調10%。
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.