金吾财讯 | 招银国际发研报指，滨江服务(03316)公布了2024年上半年的稳健业绩，收入和净利润分别同比增长39%和15%。由于毛利率较低的硬装业务在收入中占比提高，毛利率同比收窄了1.2个百分点。由于有源泉税预备，税率提高了6个百分点。该行认为，公司管理增长面积来源较为均衡（1H24的净新增在管面积中65%来自三方，35%来自母公司），相比同行更为健康，这在当前充满挑战的环境下能够支撑面积的稳健增长。该行维持“买入”评级，并将目标价由34.33港元下调4%至32.94港元，基于15x2024EP/E。
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