花旗发表报告,预计滔搏(06110.HK) 将重建其多品牌组合,因其主要品牌(Nike/Adidas)销售放缓。尽管其对2025年下半年主要品牌的预订采取审慎态度,但已积极在高增长品类中新增全球知名品牌(包括5月新增的跑步品牌Soar和高档户外运动品牌Norrona)。该行预计其收入将在2027财年恢复正增长,主要品牌预订可能从2026年第一季度开始实现正增长,并从新增品牌带来销售贡献。花旗将滔搏2026及2027财年净利润预测分别下调2%及3%,目标价从3.8元略降至3.75元。维持“买入”评级。(ad/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-05-23 12:25。)
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