《大行報告》里昂:裕元(00551.HK)去年純利遠勝預期 股息率高
里昂發表報告,指裕元集團(00551.HK)即使去年末季及全年銷售大致符預期,但受惠製造業務強勁盈利能力,其去年純利遠勝該行及市場預期。加上考慮股息率高達10.5%屬吸引,予「跑贏大市」評級。
里昂稱,儘管去年末季和全年收入按年分別降5%和12%,主因是受到全球需求疲弱和主要客戶去庫存影響;但旗下寶勝(03813.HK)門店客流量及銷售額正在復甦。而公司的生產部門受惠原材料成本按年降22%及人工成本降17%,使得毛利率大幅高於該行及市場預期。公司的經營利潤率也勝市場預期,主要由於生產業務的強勁毛利率,以及公司營運費用控制和效率優化。
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.