大行評級|麥格理:上調海爾智家目標價至42港元 評級“跑贏大市”
麥格理髮表研究報吿指,海爾智家2024財年首季營業收入按年增長6%,較該行預測及市場共識分別高1%及5%;至於同期的淨利潤按年增長20.2%,較該行預測及市場共識分別高5%及4%。該行亦指,公司旗下高端品牌卡薩帝(Casarte)今年首季度的銷售額按年增長14%,並跑贏其中國業務8%的整體增長,主要受惠於產品創新;高端購物中心的品牌定位;持續的直接面對消費者商業模式(DTC)業務等因素。另外,受惠於公司成本控制策略,海爾智家今年首季度淨利潤率6.9%,按年增加0.8個百分點。海爾智家管理層亦預計公司效率提升,將對其未來的利潤率越來越有利。另外,海爾智家管理層亦提及近期銅價大幅上升,對其家用冷氣機業務的影響,不過預計產品組合、採購措施,及供應鏈或製造優化將維持公司利潤率擴張。麥格理將海爾智家目標價由41港元上調至42港元,評級“跑贏大市”。
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