移卡（09923）今日盘中大跌5.02%，引发市场关注。这一跌势可能与交银国际最新发布的研报有关。
根据交银国际的研报，移卡2024年下半年收入为15亿元人民币，同比下降20%，主要受支付交易规模下降影响。尽管经调整EBITDA同比下降17%至2.2亿元，但环比增长35%，这主要得益于支付业务毛利率的优化。交银国际预计，2025年移卡的支付GPV和收入将分别达到2.45万亿元和29.6亿元，同比增长5%和10%。
值得注意的是，交银国际维持对移卡的"中性"评级，但将目标价从13港元下调至9.6港元。分析师指出，虽然支付业务边际有所改善，但全年表现仍存在不确定性。此外，研报还提到了移卡在海外业务拓展方面的进展，2024年海外GPV已达11亿元，增值服务已在中国香港、新加坡和日本落地。市场将继续关注移卡的海外业务拓展，以及AI赋能下高利润率的增值服务收入及利润增长情况。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.