吉視傳媒(601929.SH)：擬申請對三亞項目規劃建設用地性質及指標進行調整
格隆匯 3 月 22日丨吉視傳媒(601929.SH)公佈，2020年5月，海南省政府頒發《關於進一步採取超常規舉措確保完成全年經濟目標的實施意見》，提出了推動解決海岸帶歷史遺留問題的明確意見與具體方式。公司擬申請對三亞項目規劃建設用地性質及指標進行調整，並同步調整三亞項目開發方案。具體指標如下表所示：
1. 建設內容。公司擬在旅館業用地(B14)地塊上開發高層高端精品酒店建築；在其他商務用地(B29)及零售商業用地(B11)地塊上開發可售商業辦公建築。其中，高層高端精品酒店擬委託萬豪酒店管理公司旗下“傲途格”酒店品牌全權管理並自持運營；可售商業辦公部分擬全部對外銷售。
2.項目投資。三亞項目預計總投資15.9億，較原開發方案下降2.68億元，主要投資內容如下：
3.預期收益。自持高層高端精品酒店，預計2024年第四季度試營業，隨着海南自貿區(港)及紅塘灣海上機場的建設，該片區配套設施將逐步成熟和完善。根據綜合測算競爭項目客房價格、出租率、毛利潤等情況，財務內部收益率為4.5%(税後)，靜態投資回收期為15年(税後)，動態投資回收期為19年(税後)。可售商業辦公部分，預計銷售收入為8.91億元，税前利潤總額約3.37億元，淨利潤約2.65億元。
4.資金來源。項目預計總投資15.9億，前期已投入7億元(包括股權收購及土地成本、開發前期費用、開發間接費用等)，剩餘8.9億元將通過可售商業辦公部分銷售回款等方式籌集。為合理控制投資風險，項目計劃先開發建設可售商業辦公部分，待開盤銷售後，根據銷售進度及回款情況再開工建設酒店部分。
三亞項目位於三亞紅塘灣新海上機場門户位置，是未來三亞面向世界的重要窗口。海南自貿港建設催生了大量的商務辦公及度假需求，本次開發方案變更正是緊跟當下發展趨勢，滿足該片區未來需求的重要支撐及載體，同時也可緩解原開發方案全部自持、投資大、回收期長的劣勢，提升公司資金週轉率。
三亞項目雖經公司深入論證，但後續項目建設、運營及銷售受國家宏觀經濟政策、三亞市旅遊市場環境等多種因素影響，項目投產後能否實現預期效益，存在一定不確定性。敬請廣大投資者理性投資，注意風險。
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