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《大行報告》中金上調中海物業(02669.HK)目標價至9.8元 評級「跑贏行業」
阿思達克 07-16 15:30
中金髮表報告,預計中海物業(02669.HK)今年上半年收入和淨利潤按年增長35%,淨利潤率維持穩定。

中金預計,今年上半年公司在管面積增加超過1,000萬方,按年增長約25%。增值服務等板塊收入有望在去年上半年疫情低基數下錄得較快增長,增速有望超過物業管理板塊,從而帶動總收入增長約35%。

中金認爲,中海物業整體利潤率受到多重因素綜合影響,其中正面影響包括業務結構變動,例如增值服務等收入佔比上升、運營效率提升等,負面影響包括包乾制項目佔比上升,業務擴張必要的費用投入上升等。綜合來看,該行判斷公司淨利潤率有望大致與去年持平,維持盈利預測不變,預計淨利潤今明兩年分別按年增長30%和31%,至9.1億和11.9億元。同時上調目標市盈率至2022年27倍,上調目標價18%至9.8元,含14%上行空間,維持「跑贏行業」評級。

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