麦格理:中国中免(01880)首季收入持续恢复 升目标价至73.6港元

智通财经
02 May

智通财经APP获悉,麦格理发布研报称,中国中免(01880)销售跌幅持续收窄,同比跌幅由2024年第四季的19.5%,收窄至今年首季的11%。期内毛利率同比稳定在33%,按季改善4.4个百分点,主要由于推广减少、产品组合改善以及主动去库存。公司部分免税店正在进行装修,并计划年内重新开张13家升级的市中心门店。管理层还提到,与太古地产(01972) 合作的三亚国际免税城第三期进展良好,计划明年完工。该行将公司今明两年的纯利预测分别上调6.7%及1%,H股目标价上调1%至73.6港元,评级维持“跑赢大市”。

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