《大行報告》瑞信上調中海宏洋(00081.HK)目標價至7.4元 評級「跑贏大市」
瑞信發表報告指,中國海外宏洋(00081.HK)今年1月份合約銷售額按年增長87%至53億元人民幣,按月升幅已接近2020年水平,預期2020至2022年平均每年合約銷售額增長幅度為約28%,認為中海宏洋於三線城市有較強的競爭力及提高銷售的執行能力,其強大的資產負債表亦為長期增長鋪路。
該行指,中海宏洋繼續加快土地收購,買地預算佔該年銷售額佔比不斷提升,由2018年的48%升至2020年的71%,充足土儲為未來銷售打好基礎,預計2021年的合約銷售將可增長31%。
瑞信表示,中國海外宏洋與中國海外系公司有協同效應,加強其融資能力並豐富項目採購渠道,將新收購土地的資產淨值估計調高2%,微調2020至2022財年每股盈利預測,上調目標價,由7.3元升至7.4港元,維持「跑贏大市」評級。
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