《大行報告》大華繼顯降李寧(02331.HK)評級至「沽售」 目標價削61%至18.8元
大華繼顯發表報告指,李寧(02331.HK)斥資22.08億元向恆地(00012.HK)收購物業,與本業無關,可能令財務報表惡化,交易反映公司管治水平薄弱,將其目標價大削61%,由48.8元下調至18.8元,評級由「買入」降至「沽售」。
報告指,交易作價22.08億元,消耗公司約22%的手頭現金,交易完成後,持有物業的公司將成為李寧的附屬,而於2022年底該公司淨虧損8,000萬元,在本港物業市場疲弱下,預料短期內不會扭虧為盈,因此併入後將會影響李寧的財務報表。
該行認為,李寧在本港的業務比重不大,無需要在香港購買總部,因此不能排除交易背後的其他原因,反映公司管治水平薄弱。(cy/k)
~
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.