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關鍵假設、主要預測結果及其歷史數據-行業數據

關鍵假設、主要預測結果及其歷史數據
關鍵假設、主要預測結果及其歷史數據
維持 2025年目標PB0.85倍。我們維持預測 25-27年歸母凈利潤為 38.3/39.6/43.6億美元，25 年 bvps 為 20.79 美元（前值 20.73 美元，主因股本變動），對應 PB 為 0.71 倍?？杀裙?25 年 Wind 一致預測 PB 均值 0.93 倍（2025/5/12），我們認為公司短期仍受息差波動影響，但中長期受益于全球產業鏈重構，維持 25 年目標 PB0.85 倍，目標價 137.46 港幣（25年前值目標 PB0.85 倍，目標價 136.68 港幣），維持“增持”評級。
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關鍵假設、主要預測結果及其歷史數據_第1頁
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關鍵假設、主要預測結果及其歷史數據_第2頁
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關鍵假設、主要預測結果及其歷史數據_第3頁
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關鍵假設、主要預測結果及其歷史數據_第4頁
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關鍵假設、主要預測結果及其歷史數據_第5頁
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關鍵假設、主要預測結果及其歷史數據_第8頁
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關鍵假設、主要預測結果及其歷史數據_第29頁
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關鍵假設、主要預測結果及其歷史數據_第31頁
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關鍵假設、主要預測結果及其歷史數據_第37頁
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關鍵假設、主要預測結果及其歷史數據_第38頁
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關鍵假設、主要預測結果及其歷史數據_第39頁
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關鍵假設、主要預測結果及其歷史數據_第40頁
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關鍵假設、主要預測結果及其歷史數據_第41頁
關鍵假設、主要預測結果及其歷史數據_第42頁
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關鍵假設、主要預測結果及其歷史數據_第44頁
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關鍵假設、主要預測結果及其歷史數據_第46頁
關鍵假設、主要預測結果及其歷史數據_第47頁
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所屬報告： 渣打集團-港股公司研究報告-網絡根基厚財富動能強-250512（28頁）.pdf
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