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《大行報告》中金降東方甄選(01797.HK)目標價至36元 下調盈測
阿思達克 01-11 14:03
中金髮表評級報告,預料東方甄選(01797.HK)2024財年上半年收入26.1億元人民幣,按年增長26%,經調整淨利潤按年維持平穩,約6億元人民幣,對應經調整淨利潤率22%,按年跌約7個百分點,主要是由於公司在直播業務上的投入增加,及利潤率偏低的自營品佔比提升。 中金預計,公司2024財年上半年直播實現商品交易總額(GMV)約55億元人民幣,其中抖音貢獻約45億元人民幣,淘寶和App貢獻約10億元人民幣;實現收入22.8億元人民幣,佔收比87%。 中金將集團2024財年收入預測下調7%至57.7億元人民幣,2025財年則下調18%至57.8億元人民幣;考慮到產品結構變化,將各年的調整後歸母淨利潤分別下調21%至11億元人民幣及下調25%至12.2億元人民幣。該行將其目標價下調27%至36港元,維持「跑贏行業」評級。(ca/u) ~
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