中金发表研究报告指，预计万洲(00288.HK) 2024年纯利约为13.5亿美元，按年增约1.23倍。中国业务方面，该行预期上季肉制品销量略有增长，渠道终端需求相对疲软；屠宰业务利润料较为稳健，鲜肉产品仍面临较激烈的竞争环境。
至于美国业务，中金预计上季肉制品吨利将持续按年改善，销量较去年同期略为下滑。另外，由于养殖成本略为回落，加上公司养殖效率提升，预计下半年的上游养殖亏损较上半年有所收窄。
中金预期，集团今年美国肉制品业务在产品结构改善和成本提效下吨利可望进一步改善，上调今年核心纯利预测3%至近14.7亿美元，并预期2026年核心纯利达15.7亿美元。考虑到公司有关子公司的建议分拆及更新独立上市方案，该行预计将有利于集团整体估值水平，上调目标价近10%至7.8元，维持“跑赢行业”评级。(sl/k)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-22 12:25。)
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