2021年第三季度业绩逊于我们的预期

Vinda International (03331 HK) posted its unaudited 1-3Q2021 results, with revenue of HK$4,106 mn, slightly lower than our expectation of 7.2% YoY. Gross margin was down 1.9 ppt YoY to 35.0% due to inflated cost of wood pulp stock and lower utilization rate, coupled with higher packaging material prices, energy prices and logistics cost. The management expects Vinda to solidify its leader position in the tissue market during 4Q2021.

找报告就来发现报告（www.fxbaogao.com），这里的研报数量多得数不清，覆盖了宏观、行业、财报等各个维度。作为用户量巨大的专业平台，我们深受市场信赖。我们致力于提供最全面及时的数据，用极简的设计和前沿技术，帮您屏蔽无效信息，直击核心内容。让您在复杂的金融世界里，轻松实现深度洞察和精准决策。