中烟香港2024年业绩公告点评:业绩略超预期 结构优化抬升利润表现

东吴证券
Mar 07, 2025

H2 业绩略超预期:2024 年中烟香港实现营收130.7 亿港元,yoy+10%;毛利13.8 亿港元,yoy+27%;归母净利润8.5 亿港元,yoy+43%。2024H2营收43.7 亿港元,yoy+6.8%,归母净利润2.1 亿港元,yoy+47.1%。产品结构变化带动毛利率提升:分业务部门,2024 年烟叶类进口/烟叶类出口/ 卷烟出口/ 巴西经营/ 新型烟草制品出口业务收入分别为...

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