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《大行》匯豐研究升金沙中國(1928.HK)目標價至17.3元 評級「持有」
阿思達克 07-24 16:00
匯豐環球研究表示,金沙中國(1928.HK)2025年第二季業績略超該行預期,但符合市場預期。金沙中國管理層確認,當季博彩毛收入(GGR)增長主要由貴賓廳及高端中場需求推動,此動能已延續至暑期。與行業趨勢相反,金沙基礎中場收入按季增長10%,優於高端中場的5%增幅,可能受惠於澳門旅客增長加速,特別是5月。 自2025年4月倫敦人酒店翻新完成後,金沙中國加大高端客群營銷投入,市場佔有率於5至6月有所提升。匯豐環球研究微調金沙中國2025至2027年EBITDA預測約1%,反映倫敦人業績超預期,但其他物業的改善幅度仍有限。整體而言,金沙中國的GGR與EBITDA市場佔有率按季保持相對穩定。 該行對其目標價由17港元上調至17.3港元,維持「持有」評級。
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