海通国际:正荣地产(6158.HK)有望实现30%年复合增长率 维持“买入”评级
海通国际近日发表研报表示,正荣地产(06158.HK)半年报整体表现优异,财务管控能力持续向好,管理层对实现销售合约30%的年复合增长率信心十足,维持其“买入”评级,目标价7.1港元,较每股资产净值折让50%。
海通国际看好正荣地产上半年整体表现,其较高的盈利能力和持续改善财务状况对其后续业绩形成良好支撑。研报指出,正荣地产业绩表现与海通国际的预期高度一致,归属母公司核心净利润同比增长21.3%至90.5亿元;净负债率从上年末的74%降至71%,后续有望进一步降低至70%以下;毛利率依然维持在较高水平,管理层表示上半年毛利率位于23–25% 区间水平,后续有望维持在20–25%区间水平。
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