Market Brief

The articles are produced in Chinese only.

Author

伍洛桓先生(Gary Ng)
助理經理

畢業於美國加州大學聖地牙哥分校。對投資股票、期權經驗豐富。本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
Phone:
36533000

達利食品集團有限公司 (3799.HK)

Thursday, September 12, 2019 Views830

主要在中國從事生產及銷售食品及飲料。

 

基本資料 :

現價 : $5.32

市值 : $728億

市盈率 : 17.8

市賬率 : 4.14

周息率 : 4.56%

52週高/低 : $5.95 / $4.35

10天/50天/250天平均價 : $5.18/ $4.92 / $5.30

 

主要股東 :

許世輝及家族成員 85.00%

 

評論:

中國達利食品集團是中國領先的品牌休閒食品及飲料公司,擁有豐富和多品牌的產品組合,並不斷推出新產品和品牌,令集團成為業內領先者。在食品業務方面,主要分為糕點類、薯類膨化食品和餅乾。在糕點類別,集團以「達利園」之品牌銷售軟麵包、小麵包、蛋黃派、瑞士卷等產品,是集團的傳統優勢產品,在市場中保持絕對領先地位。「可比克」是國產薯片品牌龍頭,集團因應市場而對包裝及口味進行調節,以滿足各類消費者的需求。在飲料產品方面,主要分類為功能飲料、植物蛋白和含乳飲料、涼茶和其他飲料。而其中在豆奶產品類別,集團在2017年4月推出「豆本豆」系列的產品,為集團業務帶來新增長。

 

集團公佈了2019年上半年度收入為人民幣111.2億元,同比增長1.0%。其中食品與飲料分部的收入分別同比增長1.6%及倒退1.3%。而由於原材料和包裝材料價格下滑,集團毛利率上升1.6%至41.0%。股東應佔溢利為人民幣20.7億元,同比增長5.3%。集團過去保持著穩定增長,並於未來會大加拓展以早餐為主要消費場景的家庭消費市場,重點推出豆奶和中短保烘焙類產品兩大新產業。

 

建議買入價: $5.20

目標價: $5.80

止蝕價: $5.00

 

註:本人伍洛桓為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。

 

 

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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