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华泰证券龙光地产盈利增长确定性强
格隆汇 08-27 14:04
格隆汇8月27日丨著名投资银行华泰证券发表最新研究报告指出,龙光地产(3380.HK)中期核心利润同比增59%至46.7亿元,超出市场预期,其中深圳蛇口城市更新项目贡献了18亿核心利润。
华泰指,集团城市更新货值高达3250亿,主要分布在深圳,惠州,东莞和珠海等粤港澳大湾区的高价值区域,平均土储成本低于预期售价的25%。华泰预期城市更新每年可为集团贡献核心利润10%-20%,助力集团核心利润长期稳健增长。
华泰续指,集团81%的总土储位于粤港澳大湾区,而45%的土储位于高价值的深圳及临深区域,长期升值空间较大。预计集团可长期维持40%的派息率,销售和核心盈利将同步稳健增长,盈利确定性强,可为投资者持续带来丰厚回报。
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