花旗发表研究报告指，将其对颐海国际(01579.HK) 2024年纯利预测下调9.5%，以反映营业利润预测下降2.8%的和更高的预缴税。该行指，下调去年营业利润预测主要因为收入预测下降2%，反映了关连方销售和便利食品销售预测下降。2024年预缴税上升至5,000万元人民币，与国内子公司向上市公司分配特别股息有关，管理层称应是一次性事件。
该行另外下调2025年的纯利预测1.5%，并维持2026年的纯利预测不变，收入预测下降2%，被毛利率因业务组合改善而提高而冲销。该行预计，去年至2026年各年纯利料分别按年跌12%、回升21%及续增10%，撇除外汇损失及单次性预缴税项目后，各年核心纯利变化料分别为0%、增10%及增10%。目标价由16.7元降至16.4元，公司现估值相当于预测去年及今年市盈率分别14.2倍及12.9倍，估值相对便宜，维持“买入”评级。(vc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-14 12:25。)
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