中國旺旺 (151.HK): 面對潛在市場挑戰將以不減價創新應對 計劃進 軍越南等東盟市場 October 15, 2018

投資概要

經歷2014財年起連續三財年的銷售收入下跌後,2018財年(截至3 月尾)終見止跌回升。我們認為,這反映了整體市場需求的增長,及公司本身產品及渠道改革等方面的努力,今年預計趨勢將持續,主要考慮到提價,推出新產品的力度,以及非傳統渠道繼續擴張,收入增長有望較去年進一步加快。

公司在新財年開始(4至5月)開始提價中至高單位數,管理層預計加價對於銷量的影響屬於短期,並透露7 至8月銷售表現符合預期,而透過加價能夠轉化為在渠道及品牌方面的投資。米餅正規大小的銷售未見受到太大影響,而較大規格的則受到影響;旺仔牛奶紙包裝的未見受到太大影響,而鋁罐裝的則受到影響。

About the author

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Tracy Ku
Investment Analyst

Graduated from Chinese University of Hong Kong, majoring in Economics for Bachelor Degree, and Journalism for Master Degree. Worked in financial news industry for more than four years.
Currently cover retailing, property sectors and IPOs. Good at analysis for the companies with economic policies and industry prospects.

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