Market Brief

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Author

陳招富先生 (Anthony Chan)
經理

現任職輝立經理,樂意與客戶研究買賣策略。歡迎各位來電交流心得
Phone:
22776655

中國旺旺(151.HK)

Friday, March 27, 2020 Views5003

公司簡介 :

 

集團主要從事製造及分銷食品和飲料。集團的活動主要在中華人民共和國(「中國」)、台灣、日本、香港及新加坡進行,其產品亦銷往美國、加拿大、東南亞及歐洲國家。

 

  1. 業績勝預期

 

實現營業額 93.0 億元,同比增長 0.6%。受益原材料成本回落以及公司產品管道組合優化等因素,公司整體毛利率同上升 4.4 個百分點至48.9%。淨利潤  16.15  億元,同比增長 18.4%。

 

B)    多元化管道的開拓

 

旺旺推出多項新產品,繼續拓展新興渠道(包括母嬰店、旺仔俱樂部主體門店、自動售賣機),產品平均售價則將保持穩定。

 

目前各渠道佔比方面,傳統渠道佔 78%,電商佔 4.5%,海外市場佔 5%,現代渠道佔 11%,其他渠道佔 1.5%。今年各渠道能夠保持增長趨勢,當中電商平臺將繼續保持高速增長。

 

C)    新型冠狀病毒影響

 

新型冠狀病毒的爆發,大大減低人們在農曆新年假期聚會,影響了禮盒的零售,某些地區的停運或有限的運輸,銷售會在短期內受壓。

 

筆者認為可在5元附近買入,目標價7元,止蝕價4.2。

 

註:本人陳招富為證監會持牌人士。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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