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天風證券:中滙集團(0382.HK)收入業績持續高增 品質突出外延落地 目標價12.9港元 維持買入評級
格隆匯 04-30 13:28
格隆匯4月30日丨天風證券發研報指,中滙集團(0382.HK)2021財年上半年收入5.54億元,同比增長32.5%,主要是由於報吿期內的在校學生人數及平均學費上升導致。學費是主要收入來源,國內學校貢獻絕大多數營收。報吿還稱,中彙集團旗下7間國內外學校總在校生數6.24萬人,同比增長76.8%;平均學費1.57萬元,同比增長45.4%。公司在校生人數學費實現雙增長,疫情對行業衝擊較小。天風證券指出,集團在國內外運營多所學校,其中包括位於中國廣東省的兩家民辦高等教育機構,即本科廣州華商學院及專科廣州華商職業學院;位於澳洲的澳洲國際商學院和澳大利亞中滙學院及位於新加坡的新加坡中滙學院。今年集團國內的校網拓展取得新進展,成功收購位於四川省成都市的兩所學校四川城市職業學院及四川城市技師學院。該行預計中滙2021-22財年淨利分別為4.5億元、7億元,分別對應16.9倍和10.9倍市盈率;維持公司“買入”評級,目標價12.9港元。
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