《公司专访》中国奥园(03883.HK)料今年毛利率可回升到27%至28%
中国奥园(03883.HK)去年度毛利率按年下跌4.6个百分点至25.1个百分点,高级副总裁陈嘉扬解释,是由於年内部分项目有规划地去库存,导致较大幅度让利。他透露,大规模库存去化已大致完成,预期今年毛利率可回升到27%至28%水平。
去年奥园销售额按年增长13%至1,330亿元人民币(下同),今年销售目标为1,500亿元,增幅与去年持平。他认为,行业已由规模红利时代转变为平稳发展阶段,未来制订目标时亦会参考同行步伐。
当局去年提出「三条红线」措施,要求房企2023年6月底前现金短债比例、撇除预收款资产负债率及净负债率达标,奥园计划未来三年有息负债每年下降5%以上。他强调,未来将提升去化速度及回款效率,预期回款率可维持於去年约85%甚至更高水平。
旧改项目成行业发展一大趋势,奥园去年共转化10个项目,他指出发展周期平均缩减到2至3年,转化速度加快,今年预期转化货值约400亿元,2022及2023年将分别转化520亿及680亿元。预计平均毛利率35%至40%,带动集团整体毛利率可进一步提升。
谈及分拆计划,陈嘉扬表示,计及去年收购的奥园美谷(000615.SZ),集团体系已有3家上市公司,目前将专注发展现有业务。
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