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《大行報告》中金料李寧(02331.HK)去年純利按年跌23% 短期仍面臨壓力
阿思達克 01-02 11:42
中金發表研究報告,預測李寧(02331.HK)去年收入將按年增長5%至271億元人民幣,純利則預期按年下跌23%至31億元人民幣,主要是受到市場競爭激烈、電商銷售低迷、經銷商加強庫存管理,以及其他收入和其他收益減少所影響。 考慮到短期內中國消費市場需求的不確定性、庫存調整、營銷及戰略渠道投資費用增加,以及利息收入下降,中金相應將李寧2023年及2024年每股盈利預測下調16%及17%,至1.2及1.43元人民幣。 由於行業估值下降,中金將李寧目標價下調30%至25.6元,對應2024年預測市盈率16倍,估計短期內李寧在營運上仍面對一定壓力,維持「跑贏大市」評級。
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