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梁文軒先生 (Eddie Leung)
助理經理

現任職輝立助理經理,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。
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維達國際控股有限公司 (3331)

Tuesday, October 15, 2019 Views5304

維達國際控股有限公司 (3331)主要業務於中國從事為生產衛生紙產品及個人護理用品。主要品牌包括「維達」、「花之韻」、「雅致」及「雅惠」。產品主要銷售對象為中高檔市場。主要產品包括高級衛生原紙、盤紙、紙巾、餐巾、盒裝面巾、軟包抽取式面巾、濕巾、衛生卷紙等, 目前經濟氣氛緊張,維達是受影響較小的消費品,相信是一個不錯的選擇。

 

 

業績表現

  - 截至2019年6月止半年度,集團營業額上升7﹒6%至78﹒91億元,股東應佔溢利增加5﹒4%至4﹒4億元。期內業務概況如下:

    (一)整體毛利增加1﹒8%至22﹒17億元,毛利率則下跌1﹒6個百分點至28﹒1%;

    (二)生活用紙產品:營業額上升9﹒7%至65﹒02億元,佔總營業額82﹒4%,分部溢利增加1﹒9%至5﹒98億元。紙巾分部的毛利率及分部業績溢利率分別為28﹒2%及9﹒3%;

    (三)個人護理產品:營業額下降1﹒3%至13﹒88億元,佔總營業額17﹒6%,分部溢利減少26﹒5%至7024萬元。個人護理分部的毛利率及分部業績溢利率分別為27﹒7%及7﹒1%;

    (四)於2019年6月30日,集團的造紙設計年產能達122萬噸

    (五)於2019年6月30日,集團之銀行及現金結存為4﹒87億元,短期及長期貸款為47﹒8億元。淨負債比率(總借貸加租賃負債減去現金及現金等價物及限制性銀行存款對比總股東權益)為49﹒9%(2018年12月31日:53﹒5%)。

 

 

按照2019業績半年表現,集團營業額和整體毛利均錄得增長。相信將來可以做得更好。

 

參考資料來源:

www.etnet.com.hk

目標價: 15.5元

 

建議買入價:13.5元

 

止蝕位:12.5元

 

 

本人為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有<3331>證券的所有相關財務權益

 

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