智通财经APP获悉，里昂发布研报称，中国旺旺(00151)截至今年9月底止中期收入同比增长2%，符合市场预期，但盈利同比跌8%则逊预期，主要受到毛利率下降及经营开支比率上升的拖累。目标价从5.3港元降至4.9港元，维持“持有”评级。
里昂对旺旺的新渠道及新产品发展持正面看法，新兴及特色零食零售渠道合计对收入的贡献已提升至逾25%，对比两年前为不足10%，新产品的贡献则由接近10%提升至15%。但里昂提醒，旺旺短期内或需投入更多资源，加上原料及广告促销成本上升，将对利润率构成压力，相应将2026至2028财年净利润预测下调8%至13%。
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