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超盈国际控股发展历程梳理
超盈国际控股发展历程梳理
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所属报告:
超盈国际控股(2111.HK)-港股公司首次覆盖报告:低估值、高股息优质标的增长潜力可期-250918(17页).pdf
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4)重拾向上(2024 年至今):2024 年伴随下游海外服装品牌进入补库周期,公司订单回暖,运动面料收入同比增长 28.7%至 28.1 亿港元,整体收入同比增长 20.5%至 50.6 亿港元。受惠于原材料价格下行,以及海外产能效率提升,公司毛利率修复 2.9pct 至 26.8%,净利润同比增长 70.0%至 5.9 亿港元。25H1 受关税不确定影响,公司收入同比下降 2.3%至 23.3 亿港元,毛利率同比下降 0.4pct 至 26.6%,整体影响较小,公司净利率 11.6%仍维持较高水平,显示出公司主营运动面料的韧性。
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超盈国际控股(2111.HK)-港股公司首次覆盖报告:低估值、高股息优质标的增长潜力可期-250918(17页).pdf
可比公司2025EPB平均为1.2X
可比公司2025EPE平均为10.7X
预计2025-27年公司归母净利润分别为5.9、6.4、7.0亿港元
美国主要服装鞋履进口国最新对等关税
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