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》美銀證券升理文造紙(02314.HK)目標價至3.2元 上半年業績勝預期
阿思達克 08-11 12:15
美銀證券研究報告指,理文造紙(02314.HK)上半年稅後淨利潤按年增長7%至8.11億元,達到該行全年預期的56%。公司宣派中期息0.066元,派息率35%符合歷史水平。 業務方面,包裝紙銷量297萬公噸,按年增1%,衛生紙銷量52.1萬公噸,按年增16%。包裝紙每噸淨利潤維持於105元的平穩水平,但衛生紙每噸淨利潤超出預期,達960元,並自2023年下半年以來持續維持於約1,000元水平。其他收入因政府補貼減少而按年跌35%至2.4億元。利息支出按年跌34%至1.16億元,因貸款組合優化及贖回永續債。 基於上半年利潤率好過預期,該行將理文造紙今明兩年的盈利預測分別上調16%及3%,以反映利潤復甦快過預期;目標價由2.7元上調至3.2元,重申「買入」評級。
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