You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
交銀:首予建業地產(0832.HK)“買入”評級 目標價6.1港元
格隆匯 11-05 15:51

交銀國際發表研究報告指,建業地產(0832.HK)目前充裕的低成本土儲足以應付四年的開發,即使不再購地,公司亦有望於明年躋身千億銷售房企,預計公司將吸引更多投資者關注,從而釋放隱藏價值,目前估值相對小型內房股較便宜,首予“買入投資評級,目標價6.1港元。

該行續指,建業地產今年上半年在河南省房地產市場份額超過10%,除了自主開發項目外,還經營一個輕資產的高利潤業務板塊,通過輸出其項目開發能力,為其他地主管理項目,以賺取管理和品牌費用及利潤分成。而截至今年上半年,公司在手輕資產項目131個,預計可帶來合共超過40億元人民幣的管理收入,毛利率高於80%。

該行表示,預計2019年至2021年的收入和核心利潤的年複合增長率分別為52%和89%,隨着利潤的飆升和派息比例提高,料明年股息收益率將達20%。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account