滔搏國際 (6110 HK) 21 財年利潤符合預期,新疆棉事件後逐步恢復 June 16, 2021 63

PSR Recommendation: BUY Status: Upgraded
Target Price: HKDHKD15.34

投資概要
21 財年利潤符合預期,成本管理得宜
滔搏國際在 5 月 24 日公告公司截至 2021 年 2 月 28 日止年度全年業績,公司全年收入
約人民幣 360.1 億元,同比增加 6.9%(2020 年: 人民幣 336.9 億元),略低於我們先前
預期(先前預期:人民幣 373.7 億元),低約 3.6%。公司期內成本管控得宜,經營利
潤率同比改善 1.3 pcts,抵消收入增長較慢的影響,全年經調整淨利為人民幣 27.72 億
元,同增 16.4%,與我們預期相符(先前預期:人民幣:27.67 億元)。公司建議分派
末期每股人民幣 12 分,加上中期派息,派息比率約為 54%(不包括特別股息),全年
派息(包含一次特別股息)合共每股人民幣 64 分。

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.

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