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《大行》大華繼顯降金山軟件(03888.HK)目標價至47元 首季業績遜預期
阿思達克 05-29 10:00
大華繼顯發表研究報告指,金山軟件(03888.HK)首季業績遜於預期,收入按年增長9.4%,低於市場預測6%,毛利率升1個百分點至82.1%,符合預期。期內,淨利潤按年持平,淨利潤率跌1個百分點至12.1%。 該行表示,由於金山軟件的線上遊戲收入增長放緩及競爭激烈,下調集團次季收入預測1%,並降今年預測2%。該行又降集團次季經調整淨利潤預測9%,以反映與AI相關的投資增加。 該行對集團持審慎樂觀態度,原因是其雲收入增長放緩,但AI發展進展良好,料可抵銷增長放緩的影響,將其目標價由55元下調至47元,維持「買入」評級。
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