特步國際 (1368 HK) 1H21 表現亮眼,五年計劃明確發展方向 September 16, 2021 231

PSR Recommendation: BUY Status: Upgraded
Target Price: HKDHKD18.75

投資概要
在 2021 年上半年,公司收入錄得人民幣 41.35 億元,同比增加 12.4%;歸母公司淨利
潤為人民幣4.27億元,同比增加72.0%。上半年淨利潤率為10.3%,同比改善3.6 ppts,
主要由於 1) 毛利率改善,2) 新疆棉事件為公司產品帶來有機流量,期間費用率得以改
善。每股盈利錄得人民幣 17.1 仙,同比增加 69.2%。宣派中期股息每股 11.5 港仙,維
持派息比率 60.0%。

About the author

Profile photo of Timothy Chong

Timothy Chong
Analyst
Research

Timothy Chong received Bachelor’s Degree with first class honor in Banking and Finance from University of Leicester. He is currently studying Master of investment management in Hong Kong Polytechnic University. Before joining Phillip Securities, Timothy worked at BOCOM international and he is equipped with years of experience in the capital market. Timothy is now a licensed research analyst at Phillip Securities and covers Consumer / Property Management sectors.

Get access to all the latest market news, reports, technical analysis
by signing up for a free account today!