大行評級丨高盛:降東方甄選(1797.HK)目標價至15.9港元
高盛發表報吿,指東方甄選(1797.HK)宣佈截至5月底止下半財年第一方自家品牌平台交易總額(GMV)達36億元人民幣,高於該行預期8%,主因其自家App的GMV高於預期。自家品牌產品重複購買率達59%,東方甄選成為抖音平台上唯一一家累計訂單達一億宗的品牌。該行對東方甄選2024至2026財年各年GMV預測分別降1%、升5%及升2%,並升期內各年收入預測分別1%、6%及5%,反映第一方GMV高於預期,以及直播及貨架式電商推動GMV增長。該行料其5月底止下半財年GMV達100億,收入43億元,經調整純利2.38億元,經調整利潤率5.5%。目標價由18.4港元降至15.9港元,相當於2025年度目標市盈率15倍。
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.