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《大行報告》花旗一舉降達達(DADA.US)評級至「沽售」業務前景不明朗增
花旗發表報告指,同城配送服務公司達達集團(DADA.US)上月主席及首席財務官雙雙辭任後,上日(8日)又提交文件指,在常規內部審計過程中發現部分存疑的行為,去年網上廣告及市場推廣服務的收入可能不可信,當中首三季約5億元人民幣收入及5億元人民幣營運支援成本,有可能被跨大,因此早前提出的第四季度及全年指引亦不可信。 該行相信,事件可能與上月達達管理層離任有部分關連,除了影響業務夥伙及用戶的信心外,未來業務增長前景亦不確定,因此將達達去年第四季及今明兩年的預測下調,目標價由6美元大削至1.8美元,評級由「買入」一舉降至「沽售」。 花旗指,可能被跨大的5億元人民幣網上推廣服務收入,相當於達達去年首三季總收入約6.1%,至於5億元人民幣成本則相當於總營運及支援成本的9.8%。在母公司京東(JD.US)層面,分別相當於首三季總收入的0.064%及成本的0.075%。 該行指,由於達達的財務報表仍存不確定性,因此對公司的盈利預測仍然有下調風險,並認為該股在未來幾個月存在相當大的不確定性。
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