《大行報告》中信証券:九毛九(09922.HK)利潤率超預期 維持「買入」評級
中信証券發表研究報告指,九毛九(09922.HK)預計中期收入約28.8億人民幣,略低於預期,而淨利潤率為9.2%,勝於預期的上限8.8%。該行提到,目前太二同店銷售穩健,市場對其恢復的預期亦明顯修正。公司在降低經營槓桿方面做出的努力有望繼續提振利潤率,且慫火鍋進入快速開店階段,利潤貢獻更加顯著。
該行表示,維持集團2023至25年經調淨利潤預測為5.8億、8.7億及12.1億元人民幣。考慮到公司正處於快速增長週期,維持集團「買入」評級,目標價20元。
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