智通财经APP获悉，滔搏(06110)跌超5%，截至发稿，跌5.17%，报3.3港元，成交额2118.41万港元。
消息面上，滔搏日前公布截至2025年8月31日止六个月中期业绩，收入约122.986亿元，同比减少5.79%；公司权益持有人应占溢利约7.89亿元，同比减少9.69%；每股盈利12.72分。中期息13分，上年同期派14分。此外，滔搏公布，于2025/26财政年度第二季度，集团零售及批发业务的总销售金额按年同比取得高单位数下跌。
交银国际认为，公司2026上半财年销售仍然承压，但精细化控费效果明显。公司上半财年毛利率和费用率控制相对较好，毛利率同比微降0.1个百分点至41.0%，受到折扣变化、线上收入占比提升拖累，但零售业务贡献度上升及品牌方支持部分抵消了负面影响。该行期待下半财年出现更加明确的修复信号，目前保持盈利预测和目标价不变，维持中性评级。公司中期派息率为102%，接近7%的预期股息率将为公司股价提供下行保护。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.