交银国际:升海尔智家(06690)目标价至35.8港元 派息水平超预期

BOC International: The target price of Haier Smart Home (06690) was raised to HK$35.8, and the dividend level exceeded expectations

Zhitong Finance ·  Apr 2 03:45

BOC International expects Haier Smart Home's dividend payout ratio to 50% in 2025 and 2026.

The Zhitong Finance App learned that BOC International released a research report stating that considering the gradual implementation of policies, improved profit in the European market, the certainty of performance growth and the increase in dividend rates, the target price of Haier Smart Home (06690) was raised from HK$31.1 to HK$35.8, maintaining the “buy” rating.

According to the report, the company's sales and net profit increased 7.3% and 12.8% year on year, respectively, to 261.4 billion yuan and 16.6 billion yuan; gross margin and operating profit margin increased 0.2 and 0.3 percentage points respectively, driving net profit margin expansion 0.4 percentage points to 6.4%. The payout ratio increased to 45% during the period, and the payout ratio is expected to increase to 50% in 2025 and 2026. Related to the bank, the dividend plan that exceeds market expectations will drive the company's stock price.

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