特步國際 (01368.HK) 1H2022 業績預喜符合市場預期

8 Aug 2022

1H2022 業績預喜符合市場預期
特步國際(下稱「特步」)公布 2Q2022 內地業務營運狀況,特步主品牌零售銷售增
長(包括線上線下渠道)較 2021 年同期錄得中雙位數增長(1Q2022 為 30 % – 35
%),零售折扣水平在七折至七五折水平(1Q2022 約七五折)。累計上半年度,零售
銷售(包括線上線下渠道)同比增長 20 % – 25 %,零售存貨周轉約四個半月
(1H2021、1Q2022 皆約為四個月),估計與疫情衝擊有關。
特步預計 1H2022 股東應佔其未經審核綜合溢利將較 2021 年同期大幅增加不少於 35
%,期內綜合收入增長亦不少於 35 %,大致符合市場預期。收入增長主要由於:
(1)特步主品牌及特步兒童業務在產品創新、零售渠道升級及品牌知名度提升方面取
得突破,零售表現理想,從而帶來可觀的訂貨會訂單;及(2)專業運動分部的索康尼
零售銷售強勁,尤其是電子商務業務的零售表現,帶動收入錄得超過 100 %的同比增
長。

About the author

Eric Li
Analyst
Research

李浩然先生(Eric Li) 高級分析師 現任現為輝立証券持牌高級分析師,曾任職股票基金、家族辦公室及證券公司等,擁有多年的證券研究部門從業及投資經驗,並先後於香港最暢銷的財經媒體撰寫投資專欄。畢業於香港理工大學電子計算系。 Eric is currently a licensed research analyst at Phillip Securities. Prior to joining Phillip Securities, he has years of equity research and investment experiences in asset management company, family office and securities company. Meanwhile, he has written investment columns in Hong Kong`s best-selling financial media for years. He holds Bachelor of Arts in Computing from The Hong Kong Polytechnic University.

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