金吾财讯 | 中烟香港(06055)逆市走强，截至发稿，涨7.14%，报26.26港元，成交额1.23亿港元。消息面上，国金证券发研报指，中烟香港销量提升具备双重驱动，盈利弹性可期。由于出入境人流恢复，公司23年该业务营收同比+875.8%至12.1亿港元，占比达10.2%，24H1该业务营收同比+128.0%。展望后续，依托出入境客流进一步恢复(24年全国出入境人次恢复至19年的91%)叠加公司区域、渠道覆盖范围(如有税市场)扩大，公司卷烟出口销量提升可期。盈利能力方面，优化品规组合、提升直营/自营占比趋势已现。盈利提升具备确定性，弹性空间可期。公司定位为中烟体系资本运作平台，此前收购中烟巴西为后续并购扩张提供良好范本。作为中烟体系的重要对外扩张平台，助力中烟国际化发展，公司成长空间值得期待。东吴证券表示，中烟香港作为中国烟草 “走出去”业务平台中烟国际旗下唯一上市公司，主营业务烟叶类产品进出口稳健发展，卷烟及新型烟草产品出口打开向上弹性，进一步整合境外产业链资源空间可期。
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.