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.
《大行报告》大和微升旺旺(00151.HK)目标价至7.9元 评级「买入」
阿思达克 06-11 10:15
大和发表研究报告,指旺旺(00151.HK)将於本月22日公布截至3月底止年度业绩,预期上半财年饮品与零食市场维持2020财年下半年的收入增长动力。尽管投入成本较高,惟因有效的成本节约,公司经营利润率仍可扩张。同时公司亦受惠奶类产品价格竞争逐步减少,加上股息率强劲,料2022至23财年逾6%,及近期持续的股份回购计划,重申「买入」评级,目标价由7.8元升至7.9元。

该行预期,米饼收入於2021财年按年增4%,饮品增16%,相比其他必需品股份,公司并无低基数优势,因公司於2020年上半年维持健康的库存水平,中国奶业市场於去年首季後见快速复苏。该行估计2021下半财年米饼市场收入增长放慢,因部份分销商受累封锁政策,以及较审慎。但预期於2021至22财年,饮品及零食业务收入增长动力依然强劲,因受惠新销售渠道,及下半财年销售及行政开支有所下降。

该行表示,2022财年商品成本压力具挑战,包括来自新西兰的奶源成本於今年首季增长22%,虽然第二季下跌7%抵销部份影响,但亦将对2022财年下半年带来压力,经营利润率将在2022至23财年维持在24%至25%。

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 this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.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.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account