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《大行報告》中金:快手-W(01024.HK)核心業務有望保持增長韌性 利潤或再超預期
阿思達克 01-22 12:28
中金發表研究報告,維持對快手-W(01024.HK)的「跑贏行業」評級,預測核心業務有望保持增長韌性,利潤或再度超出預期。 該行預測快手去年第四季收入將按年增長15%至327億元人民幣,符合市場預期;非國際財務報告準則下淨利潤料達34.5億元人民幣,高於市場普遍預測的28.4億元人民幣水平,主要來自於毛利率提升及成本優化,令利潤表現繼續好過市場預期。 中金又指,快手的用戶量維持健康增長,使用時長繼續處於較高水平,核心業務預期高增長保持韌性,毛利率於較高水平企穩,相應將去年全年非國際財務報告準則下淨利潤預測上調7%至94億元人民幣,今明兩年盈利預測則維持不變。但考慮到目前市場情緒偏弱、估值中樞向下走,中金將快手的目標價下調15%至70元,對應2024年非國際財務報告準則預測市盈率約21倍。
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