《大行》大和升思摩尔国际(06969.HK)目标价至17元 料加热烟业务开始好转

阿斯达克财经
Oct 14, 2025

大和研究报告指,思摩尔国际(06969.HK) 第三季总收入按年增长27%至42亿元人民币,创历史新高,并是自2021年以来最大升幅。管理层首次作出指引,料全年加热烟(HNB)业务将贡献至少12亿元人民币收入,该行估算相当于约8%销售额。报告提到,虽然思摩尔国际第三季收入较市场预期高至少10%,但盈利胜市场预期的幅度则较小。关键正面因素在于加热烟业务开始好转,且增长动能不仅来自单一客户英美烟草(...

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