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大行评级 | 富瑞:上调莎莎(0178.HK)纯利预测3% 续予目标价1.9港元

Big Bank rating | Fu Rui: raise 0178.HK 's net profit forecast by 3% to renew the target price of HK $1.90

格隆滙 ·  Nov 19, 2021 16:10
Gronghui, November 19? Fu Ruifa reported that although the Hong Kong government hopes to clear customs in mid-December, 0178.HK expects to further relax customs clearance restrictions from June to September next year. The Group expects that even if not too many tourists come to Hong Kong to spend money, it will still be able to make ends meet in Hong Kong and Macao. The bank said the group's first-half net loss was lower than expected, raising its net profit forecast for the 2022-23 fiscal year by about 3 per cent, giving it a "hold" rating and maintaining its target price of HK $1.90. According to the report, Sasha plans to close five to eight stores in the second half of the 2022 fiscal year, and its monthly sales EBITDA is expected to break even at HK $234 million, of which about 140 million come from Hong Kong and the rest from Macau. Management also expects the company's net cash level to be maintained at about HK $267 million in March next year. The long-term goal is to continuously increase the proportion of turnover outside physical stores in the Hong Kong and Macao Special Administrative region to more than 50%. The stock is now trading at HK $1.83, with a total market capitalization of HK $5.7 billion.

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