麦格理预测，同程(00780.HK) 首季收入按年升16%。考虑到内地酒店业每日平均房价跌幅收窄，以及补贴下调和更好的增值服务销售带来的实收率逐步改善，预计住宿分部销售额按年增长22%。考虑去年首季高基数，以及运输业务萎缩，预估运输业务收入按年增长12%，虽然该部同时受惠于实收率扩张。
另外，鉴于东南亚市场安全问题，对团体游业务持较保守看法。该行料该业务今年首季收入跌13%，全年跌6%。
该行料同程今年首季净利润率按年扩大2.9个百分点，基于变现化提升，更佳流量算法及整体营运效率改善。该行上调对公司今明两年经调整净利润预测3%及2%，对该股目标价由24.3元上调至25.1元，重申“跑赢大市”评级。(fc/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-04-17 12:25。)
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