麦格理:降维他奶国际(00345)目标价至7.4港元 下调净利润预测

智通财经网
Nov 26, 2025

在智通财经APP获悉,麦格理发布研报称,将维他奶国际(00345) 2026及2027财年净利润预测分别下调16.3%及13.3%,目标价由10港元降至7.4港元,维持跑赢大市评级。

维他奶第三季中国内地市场收入同比跌9%,其中植物奶类别跌10%,茶类则升5%,增速较去年同期的双位数有所放缓。中国香港市场收入跌4%,因维他天地业务、中国澳门及出口美国业务表现疲弱,抵销中国香港市场稳健表现。虽然面对促销激烈的市场环境,第三季至今,管理层见到中国内地市场表现已较上半财年轻微改善。除了持续推动中国香港市场增长外,公司亦计划加速扩张线上及零食连锁店等新兴渠道。

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