大和：重申申洲国际(02313)“买入”评级下半年毛利率逊预期

智通财经03-31

智通财经APP获悉，大和发布研报称，尽管短期存在不利因素，基于申洲国际(02313)目前估值不贵，该行重申“买入”评级，目标价由79港元降至73港元。申洲国际2025年下半年业绩逊于预期，收入同比增长2.2%，毛利率同比下跌1.8个百分点至25.6%，为两年低位，表现远逊于市场对毛利率大致稳定的预期。该行估计毛利率逊于预期主要由于关税、人民币升值，以及劳工成本上升及效率欠佳所致。展望2026年，...

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大和：重申申洲国际(02313)“买入”评级 下半年毛利率逊预期

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大和：重申申洲国际(02313)“买入”评级下半年毛利率逊预期