《大行報告》高盛下調中國軟件國際(00354.HK)至6.8元 評級「買入」
高盛發表報告指,中國軟件國際(00354.HK)上半年毛利率由去年下半年的21%,提升至今年上半年的24%,但仍然低於該行預期的25%。不過員工數目減少,相關開支下跌,令經營收益較該行預測高出20%。在政府補貼較預期少、及利息成本增加下,純利較該行預測高出7%。
報告指,上半年整體收入疲弱,但雲智能及大數據解決方案業務,仍然有低雙位數增長,雖然宏觀經濟前景未明朗,但管理層相信,透過華為及人工智能業務,繼續推動增長。
在計及上半年業績後,該行將2023年、2024年及2025年的盈利預測,分別下調9%、1%及維持不變,反映資訊科技業務需求放緩,目標價由7.1元下調至6.8元,維持「買入」評級。
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