《大行》建銀國際升敏實集團(00425.HK)目標至35.1元 維持「跑贏大市」評級
建銀國際研究報告指,預期敏實集團(00425.HK)今年全年毛利率將持續復甦,其中電池殼體業務毛利率有望擴張至近24%,而傳統鋁製裝飾件則維持約35%水平。該行預期較低毛利的電池殼體佔比將提升,由2023年的約23%,提升至2025、2026及2027年的30%、35%及41%。而海外業務佈局擴大及全球產能利用率上升,有助抵銷內地市場環境的挑戰。
該行認為敏實集團的盈利正進入強勁復甦軌道,海外業務重回增長。儘管內地市場短期競爭加劇,但該行對內地業務的擴張,以及全球汽車市場穩健前景仍持樂觀預期。公司不僅在全球新能源車發展中佔據優勢地位,更積極探索人形機器人等新領域;將目標價從24.5元上調至35.1元,維持「跑贏大市」評級,該行料敏實2025、2026及2027年每股盈利增長各為27%、27%及32%。
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.