《大行》麦格理:内地体育品牌偏好安踏(02020.HK) OEM首选裕元(00551.HK)

阿斯达克财经
Dec 12, 2024

麦格理表示,在该行研究覆盖的9间体育用品代工商中,鞋类及服装代工上月收入按年升15%及10%。该行在中国本土体育品牌中偏好安踏(02020.HK) ,在代工商中偏好估值不昂贵的裕元(00551.HK) 、其次为申洲(02313.HK) 及台股儒鸿。
该行又指,裕元上月制造销售按年增长17%,较10月的21.3%放缓,但继续反映客户订单动力稳固。该行相信Adidas及其他跑鞋品牌继续贡献强劲的订单增长,正如该行在印尼的厂房视察及零售商Footlocker(FL.US)  的业绩所反映。
股份 | 投资评级 | 目标价(港元)
九兴(01836.HK)  | 跑输大市 | 11.00
裕元(00551.HK)  | 跑赢大市 | 20.90
李宁(02331.HK)  | 跑赢大市 | 22.60
安踏(02020.HK)  | 跑赢大市 | 141.00
申洲(02313.HK)  | 跑赢大市 | 97.40
滔搏(06110.HK)  | 中性 | 2.60
(fc/u)(港股报价延迟最少十五分钟。沽空资料截至 2024-12-11 16:25。) (美股为即时串流报价; OTC市场股票除外,资料延迟最少15分钟。)

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