《大行》瑞银:裕元(00551.HK)2026年前景展望保守 目标价微降至20元

阿斯达克财经
Mar 16

瑞银发表研报,估算裕元集团(00551.HK) 去年第四季纯利按年升68%至1.02亿美元,超该行预期8%,主要因税务纠纷诉讼胜诉后获得所得税拨回。但期内毛利率、经营利润率均逊该行预期,主因产能不均、与美国客户分担关税、OEM业务员工增加及零售分支宝胜(03813.HK) 经营去杠杆。管理层今年前景展望保守,目标是2026年销售实现轻微增长。瑞银基于分类加总估值法(SOTP)计,对其目标价从...

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