交银国际:维持海尔智家(06690)“买入”评级 目标价升至35.8港元

BOC International: Maintaining Haier Smart Home's (06690) “Buy” Rating and Raising the Target Price to HK$35.8

Zhitong Finance ·  Mar 29 03:54

BOC International believes that Haier Smart Home's (06690) dividend plan that exceeds market expectations will drive the company's stock price performance today.

The Zhitong Finance App learned that BOC International released a research report stating that the target price was raised to HK$35.8 to maintain the Haier Smart Home (06690) “buy” rating, taking into account the gradual implementation of policies, increased development in the North American market, improved profits in the European market, the certainty of performance growth and the increase in dividend payout rates. The company's 2023 performance is in line with expectations, and dividends exceed expectations; the dividend plan that exceeds market expectations drives the company's stock price performance today.

According to the report, Haier's high-end brand Casadi aims for double-digit growth in 2024: the company will make strategic adjustments to the Casadi brand with a double-digit revenue contribution in 2023, including 1) product upgrades, shifting from traditional single product upgrades to package upgrades, launching new series (such as Nebula packages) and completing sales of 350,000 units (of which the high-end Nebula series air conditioners sold more than 140,000 units), and plans to continue to promote new products in 2024 (such as the conductor package); 2) Increase high-end user touchpoints: as of the 1st quarter of 2024, the company has entered 300 shopping malls nationwide;) Member management currently operates approximately 13 million users by improving service and marketing efficiency. Casati achieved double-digit revenue growth in 2023 (retail sales increased by 14%) and aims to achieve a 10-15% year-on-year increase in 2024.

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