《大行》里昂降錦欣生殖(01951.HK)目標價至3.5元 料明後兩年將重回正軌
里昂研究報告指,錦欣生殖(01951.HK)今年上半年收入下降11%,錄得10億元人民幣淨虧損,主要因海外資產減值所致。公司認為所有逆風已在上半年消退,預計下半年情況較上半年改善。里昂對錦欣2025年持中性展望,但預計其在2026至2027年將重回正軌。
里昂將錦欣生殖2025至2027年收入預測下調12%至20%,淨利潤預測下調27%至31%,預計2025年錄得淨虧損,以反映2025年上半年業績及謹慎的2025年展望;基於修訂後的預測及更高的目標市盈率,將目標價從原先3.8港元下調至3.5港元。
根據修訂後的預測,里昂預計錦欣在2025至2027年收入按年分別跌4%、回升10%及續升14%。
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