《大行》中金降华润饮料(02460.HK)目标价至9.47元 维持“跑赢行业”评级

阿斯达克财经
Jul 10

中金发表研究报告指,主要由于华润饮料(02460.HK) 组织调整及渠道库存清理,预计公司上半年收入按年下跌低双位数。另外,公司受到费用投放节奏影响,预计纯利按年跌27%,低于市场预期。考虑到去年公司主要费用投放如国家队签约等均在下半年发生,致上下半年利润分布达到8:2,今年该行预计上下半年利润表现或更为平均,费用投放或更加均衡。毛利率方面,受惠于低价PET库存,预期上半年毛利率或按年略有提升。...

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