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》美銀證券:海爾智家(06690.HK)估值具吸引力 料次季業績強勁
阿思達克 07-15 10:18
美銀證券發表研究報告指,認為海爾智家(06690.HK)股價年初至今跌約一成,主要因市場擔憂其美國業務的敝口。該行料即將公布的次季業績將優於預期,有望緩解疑慮,並認為該股估值具吸引力,重申「買入」評級,目標價31.8元。 該行預期次季收入將實現低雙位數增長。當中,中國市場增長由首季8%增至次季低雙位數,主要受惠於酷暑天氣、低基數及政府補貼政策。產品方面,料雪櫃和洗衣機有中單位數增長,冷氣機增長約10%。海外市場收入亦有望實現低雙位數增長。當中,美國市場由於加價,收入增速可能加快,料歐洲增長10%,東盟、中東及非洲增長20%至25%以上,南亞增長30%。受惠於原材料影響不大,以及持續效率優化,營業利潤率可能進一步擴張10至20個基點。 另外,集團的美國子公司與同業已於上半年加價低單位數,以轉嫁關稅成本。相較競爭對手,集團的本土化生產比例為行業最高,美國銷售中有60%為本地製造,30%從墨西哥進口、10%來自中國,使其受關稅影響較低。此外,集團正擴大美國產能,未來2年將投資4.9億美元建造洗衣機工廠,並將部分產能轉移至東南亞,如利用泰國基地生產雪櫃。
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