智通财经APP获悉，美银证券发布研报称，长和(00001)旗下屈臣氏集团计划在香港及伦敦进行双重上 市，最早可能于第二季成事，公司估值约300亿美元，招股或集资20亿美元。若能成事，屈臣氏估值将 显著高于该行目前用于推算长和2026财年资产净值时对屈臣氏的估值。该行维持对长和的"买入"评级， 因预期其2025财年业绩将表现稳固，并认为目前其估值具吸引力，尤其是公司目前似乎更积极采取释放 价值的行动; 目标价62港元。 ...

Core Viewpoint - The report indicates that the Watsons Group, a subsidiary of CK Hutchison, plans to pursue a dual listing in Hong Kong and London, potentially completing this by the second quarter, with an estimated valuation of approximately $30 billion and a fundraising target of $2 billion [1] Group 1 - The dual listing could result in a valuation for Watsons that is significantly higher than the current valuation used by Bank of America for CK Hutchison's net asset value for the fiscal year 2026 [1] - Bank of America maintains a "Buy" rating on CK Hutchison, anticipating stable performance for the fiscal year 2025 and viewing the current valuation as attractive [1] - The target price for CK Hutchison is set at HKD 62, reflecting the company's proactive approach to unlocking value [1]

消息面上，据媒体援引知情人士报道，长和正考虑将旗下屈臣氏进行双重上市，筹资或高达20亿美元。 知情人士透露，屈臣氏集团于香港和英国上市的基础工作已在进行中，首次公开募股(IPO)计划于明年 上半年进行。据了解，若进程顺利，其估值有望突破300亿美元，成为港股近年来最大消费零售IPO之 一。 据长和发布的2025年上半年财务报告，屈臣氏集团旗下公司组成的零售部门，收益总额988.4亿港元， 同比增长8%。尽管全球表现较佳，但其在中国收益总额为66.66亿港元，同比下滑3.1%。 智通财经APP获悉，长和(00001)盘中涨超3%，截至发稿，涨2.25%，报54.65港元，成交额2.85亿港元。 ...

Group 1 - The core viewpoint of the article is that CK Hutchison Holdings (长和) is considering a dual listing for its Watsons business, potentially raising up to $2 billion [1] - The groundwork for the listing in Hong Kong and the UK is reportedly underway, with an IPO planned for the first half of next year [1] - If successful, the valuation of Watsons could exceed $30 billion, making it one of the largest consumer retail IPOs in Hong Kong in recent years [1] Group 2 - According to CK Hutchison's financial report for the first half of 2025, the retail segment, which includes Watsons, generated total revenue of HKD 98.84 billion, reflecting an 8% year-on-year growth [1] - Despite strong global performance, revenue in China for Watsons totaled HKD 6.666 billion, showing a decline of 3.1% year-on-year [1]