《大行報告》美銀證券降金蝶國際(00268.HK)目標價至16.5元 重申「買入」
美銀證券發表報告指,金蝶國際(00268.HK)預計2023財年的收入約56.5億至57億人民幣,意味按年增長16%至17%,淨虧損料收窄36%至56%,至介乎1.7億至2.5億元人民幣。報告提到,集團的收入大致符合市場及該行預期,虧損少過(好過)預期。集團2023財年金蝶雲訂閱服務年經常性收入(ARR)將按年增33%至28.5億元人民幣,低於其目標水平5%,惟該行認為,影響將被勝於預期的盈虧表現和經營現金流部分抵銷。考慮到宏觀疲弱,該行將集團2023至25財年的收入預測下調2%至3%,但上調淨虧預測,以反映較佳成本節省,目標價由18.5元下調至16.5元,重申「買入」評級。
該行表示,以中間數計,金蝶國際的盈利預告意味著其2023下半財年收入按年增16.5%,下半年扭虧轉賺7,400萬元人民幣,對上財年同期蝕3,300萬元人民幣,淨利潤率按年改善3.6個百分點。另公司去年全年經營現金流料按年增68%至79%,達6.3億至6.7億元人民幣。該行預計,集團2023財年的毛利率將略為改善,預計2024財年的收入有望加快增長。
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.