郭思治: 眾誠能源(02337.HK)併購後發展惹憧憬 上望7.6至8.2元
香港股票分析師協會副主席郭思治稱,眾誠能源(02337.HK)去年底以6.5億港元收購恆永環球投資有限公司,以進入加油站、石油批發等領域,將公司定位為加油、加氣、充電站為主,以其他能源及新能源為輔的專業化科技型零售服務商。隨著完成收購,公司現已增加67座加油站,覆蓋中國東北部主要城市,包括吉林省、遼寧省及黑龍江省等。另外,公司目前共營運29座加氣站,其中包括22座壓縮天然氣,3座液化石油氣及4座混合加氣站。
公司預計在2020年底約管理及經營100個加油及加氣網絡,至2021年底將增到200至250個,到2023年底前希望達到400至500個,而目標在未來35年管理及經營1000個加油、加氣、充電站網絡。目前公司已發出超過75萬張會員卡,並有超過170萬名用戶登記成為微信公眾號會員,此數據庫該可為公司制定更高質量的營銷計劃和拓展其他新業務的機會。
假設合併後,按2019年的業績計,眾誠能源賺3,500萬元人民幣,而恆永環球投資有限公司去年溢利為1.02億元人民幣,相信該可帶動全年業績向好。目前公司仍會物色新業務,即公司未來將會有頗大的發展空間。據聯交所披露,大股東於完成收購後以約5.18元前後增持644萬股,反映大股東對公司有信心。另外,需留意的是,現時介乎10億元至50億元市值的能源公司,合理市盈率該為18倍左右。以眾誠能源現價在6元計,配合完成收購後,按市盈率約18倍計,目標可上望7.6元至8.2元。
(筆者為證監會持牌人)~
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