研報掘金|中金:上調統一企業中國目標價至9.8港元 今年業績有望延續較好增長
中金髮表研究報告指,統一企業中國去年收入303億元,按年增長6.1%;歸母淨利潤18.5億元,按年增長11%,剔除一次性因素按年增長32%;其中下半年收入149億元,按年增長6.2%;歸母淨利潤8.8億元,按年增長12%,符合預期。
該行預計,今年出行及新產品推廣等有利因素有望延續,而需求亦有望逐漸恢復,今年公司飲料收入有望持續較好增長、面增速有望改善。至於利潤端,考慮飲料成本利好、減促、產能利用率提升及結構改善等,預計公司飲料利潤率提升或有望帶動整體利潤率改善。從中長期來看,中金認爲,飲料行業較好景氣度有望利好業績持續成長,並考慮行業龍頭企業的利潤訴求增強,並嘗試對產品提價,預計面和飲料格局改善有望帶動公司利潤率穩中有升。
該行指,將公司今年盈利預測上調21.6億元,明年則上調24.6億元,將其目標價上調14%至9.8港元,維持“跑贏行業”評級。
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