《大行報告》建銀國際微降旺旺(00151.HK)目標價至5.3元 評級「中性」
建銀國際發表報告指,旺旺(00151.HK)2023財年純利按年跌20%至33.72億元人民幣,均低於市場及該行預期,主要是銷售表現疲軟、財務成本增加以及股息預扣稅負擔高於預期,這亦意味著下半年純利按年跌16%至17.76億元人民幣。
該行相信,米餅、乳製品及飲料產品銷量均錄得按年及按季升幅,受惠於內地重開令客戶流量改善及分銷渠道更加規範化;並預料公司在2024財年息稅前利潤率按年升0.6個百分點至21.7%。
該行預料,公司將會繼續受惠於其穩健的品牌形象及營銷能力,以提高客戶忠誠度,並保持其優勢,惟從長遠來看,其產品組合逐漸老化,或會阻礙其收入增長。將其目標價由5.4元輕微下調至5.3元,維持其評級為「中性」。(ca/s)
~
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.