You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》交銀國際削潤啤(00291.HK)目標價至43.9元 高端化仍強韌
交銀國際發表報告指,華潤啤酒(00291.HK)去年銷售額按年增長10.4%,歸母淨利潤增長18.6%至51.5億元人民幣,符合市場預期。利潤率有所改善,下半年中低端啤酒銷售放緩,整體啤酒收入的按年增速放緩。 該行指,潤啤的高端化仍在繼續,而中低端價格段的銷量則加速下滑。去年次高端及以上的銷量按年增長19%,管理層預計今年增長15%至20%。該行預計今年利潤率將得以提升,主要因爲持續高端化、向利潤率較高的小包裝產品組合轉變、大宗原材料價格下降。 該行維持其「買入」評級,目標價由62元下調至43.9元。鑑於整體銷量可能繼續承壓,而高端價格段繼續更具韌性,下調對潤啤的偏好程度,現更看好更高端的同行百威亞太(01876.HK)。
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.
uSMART
Wealth Growth Made Easy
Open Account