浦银国际表示，盈警后股价暴跌，已经充分反映了公司上半财年利润的下滑以及管理层对下半财年悲观的展望，后续持续下降的空间有限；预计在未来12个月里，Nike和adidas的品牌和产品势能有望恢复，将驱动公司收入重回增长。考虑到公司较强的运营韧性，我们不排除2HFY25的利润表现好于市场预期的可能；基于每年100%派息率的假设，公司当前FY25的股息率已达到11.2%，在消费领域处于领先。Taobo (06110) rebounded more than 3%. As of press release, it rose 3.59% to HK$2.31, with a turnover of HK$0.104 billion.
The Zhitong Finance App learned that Taobo (06110) rebounded more than 3%. As of press release, it rose 3.59% to HK$2.31, with a turnover of HK$0.104 billion.
According to the news, Taobo issued an announcement. It is estimated that in the six months ending August 31, the company's net profit will drop by about 35% year-on-year. Management anticipates that demand for terminals in the second half of the fiscal year may face greater challenges than in the first half of the fiscal year, and that the decline in revenue and deepening retail discounts in the second half may be greater than in the first half of the fiscal year. Management said the October results would be lowered to the full year results guidance for FY2025.
SPDB International said that the sharp drop in stock prices after the financial warning fully reflects the decline in the company's profit in the first half of the fiscal year and the management's pessimistic outlook for the second half of the fiscal year, and there is limited room for continued decline; it is expected that in the next 12 months, the brand and product potential of Nike and Adidas will recover, which will drive the company's revenue back to growth. Considering the company's strong operational resilience, we do not rule out the possibility that 2HFY25's profit performance is better than market expectations; based on the assumption of a 100% annual payout rate, the company's current FY25 dividend ratio has reached 11.2%, leading the consumer sector.
