《大行報告》瑞銀:撥備及成本升導致中航信(00696.HK)去年盈利遜預期
瑞銀發表研究報告指,中航信(00696.HK)去年盈利遜預期,其管理層透露,公司下半年淨利潤疲弱,主要是由於期內計提了約2億元人民幣的應收帳款損失撥備;集團加大研發投入,導致技術支援及維護成本較高;及鑑於業務量快速恢復,公司在期內增派獎金。
報告引述管理層表示,未來幾年將繼續把收入的約10至15%投入研發。另外,公司的利潤率將持續改善,但在今年恢復到新冠疫情前水平的可能性較低。集團又料系統整合(SI)業務或會反彈,並可能在今年恢復到2022年的水平。鑑於中國對機場的持續投資,SI業務中長期增長或保持穩定。
該行予集團目標價18.3元,評級為「買入」。
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.