2Q26 under pressure

研报英文原文证据摘录

2Q26 under pressure

Macquarie Equity Research Uni-President China

Alpha Model Decomposition Key Quant Findings

The quant model currently holds a marginally positive The Macquarie Alpha is decomposed into its sector and

view on Uni-President China. The strongest style exposure market relative factor & styles exposures (a higher/better

is Valuations, indicating this stock is under-priced in the percentile is coded in green, whilst lower in red).

market relative to its peers. The weakest style exposure

is Growth, indicating this stock has weak historic and/or relativePercentileto

forecast growth. Growth metrics focus on both top and

sectors market

bottom line items. Factors / Styles (/664) (/598) Core factors in definition

ALPHA 74% 62% Built from the styles below

Macquarie Alpha Model: Key rankings VALUE 74% 76% Book, CF, Yield, Earnings Multiples

ANALYST 65% 56% Revisions (Earnings, Recommendations)

The Macquarie Quant’s flagship Alpha model is a dynamic MOMENTUM 83% 64% Price Momentum

multi-factor model based on a staple of quant factors such

as value, momentum, revisions, quality, and risk. GROWTH 20% 13% EPS, Sales (Forecast, Historic)

PROFITABILITY 67% 55% ROE, Margin, Asset Turnover

Global Market (Country) Sector

Food Beverage QUALITY 82% 87% Accruals, Earn Stability, Cash Conversion Whole Universe Hong Kong & Tobacco

CAPITAL 54% 66% Investment/Capex, Net share issuance

Macquarie Alpha

6027/17994 225/598 175/664 LIQUIDITY 53% 76% Size, Turnover, Analyst Coverage Model

Fundamental LOW RISK 46% 67% Beta, Volatility, Earn.Cert, Leverage 6214/17994 378/598 237/664 (Consensus) *

TECHNICAL 35% 35% MACD, RSI, Bollinger, Williams R, etc

* based on Total Shareholder Return = Consensus Price target / Current Price

Factors driving the Alpha Model vs peers