《大行》里昂:萬洲國際(00288.HK)上半年營運改善步伐加快 升目標價至9.26元
里昂表示,萬洲國際(00288.HK)2025年上半年營業利潤按年增長10.4%,營業利潤率提升1.4個百分點。銷售額按年增長8.9%,為2020年下半年以來最佳表現。美國及墨西哥業務受豬肉價格上漲推動,營業利潤顯著增長,每噸利潤達到歷史高位,且2025年第二季度包裝肉製品業務銷量實現正增長。
在中國市場,里昂對公司推行的專業化品類管理、拓展低滲透區域以及包裝肉製品銷售渠道改革持樂觀態度。管理層上調2025年美國業務營業利潤指引,並預計中國包裝肉製品銷量將持續改善。該行維持萬洲「高度確信跑贏大市」評級,並將目標價上調至9.26港元。
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