大行评级|花旗:上调颐海国际目标价至14.4港元 上半年业绩符合预期

格隆汇
Aug 27, 2025

花旗发表研究报告指,颐海国际上半年业绩符合预期,收入及净利润持平,第三方销售略胜预期,有助抵销关联方销售下跌的影响,基于估值轮动将目标价从13.4港元上调至14.4港元。该行指,颐海持续聚焦B2B及海外业务发展,管理层预期今年全年B2B及海外销售将增长100%及30%。基于经营利润率预期较低,花旗将下调2025至2027年净利润预测下调5.5%、6.6%及6.5%,由于第三方销售盈利前景较弱,因此仍维持“中性”评级。

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