Market Brief

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Author

伍洛桓先生(Gary Ng)
經理

畢業於美國加州大學聖地牙哥分校。對投資股票、期權經驗豐富。本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
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萬洲國際有限公司 (288)

Monday, May 23, 2022 Views6626

萬洲國際有限公司 (0288.HK)

 

主要從事生產及銷售豬肉食品業務,包括肉製品及生鮮豬肉,以及生豬養殖。

 

基本資料 :

 

現價 : $5.84

市值 : $748億

市盈率 : 9.85

周息率 : 3.25%

52週高/低 : $7.49 / $4.28

10天/50天/250天平均價 : $5.54/ $5.18 / $5.65

 

主要股東 :

興泰集團有限公司                                39.20%  

Mondrian Investment Partners Ltd.          6.03%

 

 

評論:

萬洲國際為一間豬肉食品企業,業務包括生豬養殖、生豬屠宰、生鮮豬肉和肉製品加工與分銷的各個環節,業務主要分佈於中國、美國和歐洲,其中中國業務主要透過「雙滙」品牌從事肉類加工、肉製品生產和銷售業務。集國的美國和歐洲業務則以「Smithfield」品牌作銷售生鮮豬肉和肉製品。

 

集團公佈了2022年年度截至3月31日止3個月收入為65.5億美元,同比下跌0.8%。其中來自肉製品的收入為35.81億美元,較去年增加3.42億美元,升幅為10.6%。來自生鮮豬肉的收入為26.3億美元。經營利潤為6.42億美元,同比上升34.8%。其中肉製品業務為5.96億美元,上升34.8%。在肉製品業務中,中國的經營利潤上升25.5%,美國的經營利潤上升55.7%。主要原因為受惠於中國產量擴充及原材料成下本下降,和於美國的零售需求強勁令銷量增加。

 

集團預期2022年非洲豬瘟及冠狀病毒相關的風險所產生的負面影響將會逐步減弱,但通貨膨脹壓力會帶來新的挑戰,集團將繼續完善一體化產業鏈以應對大宗商品價格飛漲。

 

 

建議買入價: $5.65

目標價: $6.50

止蝕價: $5.10

 

註:本人為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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