金吾财讯 | 汇丰研究发研报指，新秀丽(01910)将于3月13日披露去年第四季业绩，该行料其销售有望于第四季迎来转折点，按固定汇率计算增长1%，相对于第三季为跌7%。该行表示，按地区划分，预计新秀丽北美地区(增长5%)和欧洲地区(增长4%)将实现正增长，亚洲地区虽按季有所改善，但仍为负增长(下降7%)，拉丁美洲地区保持稳定增长(增长17%)。该行料季内公司毛利率约59.2%，按年跌70点子，经调整EBITDA利润率为18.2%，按年跌约90点子。展望今年，该行预期新秀丽的销售在正常化的基数下恢复增长，按固定汇率计算升5%，且按季表现持续改善。然而，中国及印度市场仍暗淡，因尽管中国国内整体消费趋势似乎趋于稳定，但增长仍面临困难；印度市场由于于竞争对手促销活动剧烈，业务依然充满挑战。此外，该行认为新秀丽今年稍后可能举行的投资者日活动，以及随后在美国双重上市可能成为关键的正面催化剂。该行维持对新秀丽的“买入”评级，目标价由26港元上调至30港元，并维持对其预测基本不变。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.