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《大行報告》中金:中免(01880.HK)第二季度業績符預期 毛利率按季提升
中金發表研究報告指,中國中免(01880.HK)發布業績快報,預期截至今年6月底止中期收入按年增長29.7%至358.58億元人民幣,純利則按年跌1.9%至38.64億元人民幣。當中,次季純利按年增長13.8%,達到15.63億元人民幣,毛利率按季提升3.7個百分點至約32.7%,業績基本符合預期。 中金表示,關注中國中免未來的營業面積擴張、重大奢侈品牌入駐、市內政策出台及機場租金重新談判等潛在的邊際改善因素。海棠灣一期二號地及三亞鳳凰國際機場法式花園正積極籌備開業,預期有望帶來業績增量。 中金維持2023至2024年盈利預測不變,並維持對中免的「跑贏行業」評級,目標價為170港元,對應2024年預測市盈率約26倍。
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