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.
《大行報告》大和削小米-W(01810.HK)目標價至13.5元 上季物聯網銷售或遜預期
阿思達克 02-06 10:13
大和發表報告指出,根據小米-W(01810.HK)最近的智能手機出貨量數據,重新審視對其去年第四季的預測,估計上季總收入按年增長10%至730億元人民幣,經調整淨利潤達40億元人民幣。 該行預期,小米上季智能手機出貨量按年增長23%至約4,050萬部,略低於該行原預期。當中中國出貨量料按年增長12%,印度升31%,其他國家增長26%。由於小米14系列發佈,該行預測上季小米智能手機產品均價約1,100元人民幣,較該行原預期的1,000元人民幣爲高,因此,該行將小米智能手機收入上調至439億元人民幣,毛利率由15%上調至16%。 此外,該行預期小米去年智能手機出貨量按年跌3%至1.45億部,主要受累於印度市場。另料小米的季度出貨量或於去年首季觸底,估計公司今年出貨量將恢復正增長,按年升7%至1.56億部。而公司在各國的高端化策略應將於今年爲每個市場帶來均價提升。 對於小米的物聯網業務,該行料受電視銷售疲弱及家用電器的季節性波動,上季物聯網收入或遜預期,物聯網收入預測由原本的按年增長9%至234億元人民幣,下調至按年跌5%至204億元人民幣,毛利率由16%下調至14%。同時下調今明兩年收入增長預測。 該行將小米2023至2025年每股盈利預測下調4%至14%,以反映物聯網業務銷售復甦較慢,以及新措施帶來的虧損擴大。重申對其「跑贏大市」評級,目標價由18.5元下調至13.5元。
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