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《大行報告》中金上調東方甄選(01797.HK)目標價至49元 業績穩固
阿思達克 09-11 11:12
中金發表研究報告指出,東方甄選(01797.HK)5月底止2023財年業績穩固,期內收入按年增長6.5倍至45.1億元人民幣,其中直播電商業務貢獻38.8億元人民幣,佔總收入的86%。經調整淨利潤10.9億元人民幣,經調整利潤率達24%。該行認為,公司收入及利潤基本符合該行預期。 該行指出,鑑於東方甄選受惠於淘寶直播帶來的商品交易總額(GMV)提升,該行將東方甄選2024財年收入預測上調19%,至62.1億元人民幣;對公司2025財年收入預測為70.8億元人民幣,經調整淨利潤為16.3億元人民幣。 此外,該行料東方甄選2024財年直播業務的GMV可達至137億元人民幣,意味著GMV淨利潤率為9%。該行預期2024財年來自大學教育和機構客戶的收入為6.87億元人民幣,淨利潤率16%。該行將東方甄選目標價上調23%至49元,予以「跑贏行業」評級。
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