汇丰环球研究指，信义玻璃(00868.HK) 周二(31日)发盈警，料去年盈利32亿至37亿元，按年跌三至四成，差于该行预期，该盈警意味去年下半年盈利介乎4.89亿至10.26亿元，为十年来最差的半年。
该行预期今年玻璃需求下降，因房屋完成将持续下降趋势，楼市相关政策刺激料只能减慢下降情况。供应侧方面，部分生产商因盈利能力受压停产，但不足扭转不利的供需动能，预期玻璃价格及盈利率仍处历史低位，且欠缺上行空间，供应侧需有显著改变以改善盈利。
该行维持信义玻璃“持有”评级，目标价由10.7元降至7.3元，基于大幅削减盈利预测，目标价为预测股本回报率8%，目标市账率为0.8倍，为2016年以来历史平均值低1.5个标准差，预期行业盈利能力受压将触发今年首季进一步减产。(fc/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-02 16:25。)
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