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《大行报告》瑞信升绿城服务(02869.HK)评级至「跑赢大市」 目标价上调至13.06元
阿思达克 03-30 09:54
瑞信发表的研究报告指,绿城服务(02869.HK)去年净利按年升42%至7.62亿元人民币(下同),分别较该行及市场预期高9%及14%,毛利率改善1个百分点,而净利润率则改善1.3个百分点,宣派特别息每股8港仙。

管理层指引未来五年收入增长将达五倍,意味到2025年收入将达500亿元,年复合增长达38%,其中基本服务、社区增值服务,谘询服务及科技业务收入的年复合增长将分别为30%、50%、35%及75%,在收入中的贡献则料将分别为60%、25%、10%及5%。

瑞信称,公司在外部扩张方面一向有较好往绩,管理层亦料将加快相关速度,考虑到每年净增1.6亿平方米,料到2025年合约面积将增加至13亿平方米,而2021至2025年管理面积则料每年增1.3亿平方米。

该行将公司2021至2022年盈利预测升16.5%及21.5%,目标价由9.37元升至13.06元,评级由「中性」升至「跑赢大市」,以反映增长前景较快。

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