股價遭錯殺 正榮地產(06158.HK)獲大股東增持2百萬股
9月20日晚間，正榮地產(06158.HK)發佈自願性公吿，2021年9月20日當天，大股東在公開市場增持共200萬股本公司股份，總價值約為786萬港元。
正榮地產在公吿中表示，本次增持展示控股股東對本集團整體發展前景和增長潛力的信心以及其對本公司的長遠投入。控股股東不排除將來當彼認為時機適當，可能會進一步增持本公司股份。分析人士認為，大額增持傳達出了其大股東對正榮地產長期發展能力及未來股價上漲空間的充分信心。
9月20日，A股“放假”期間，香港恆生指數開盤跌1.12%，隨後，恆指跌幅擴大至4%，截至收盤，報收24099.14點，跌821.62點，盤中一度跌1049點，地產股也大面積下挫。受市場影響，正榮地產股價下跌4.84%，報收於3.93元，而此前海通國際給予正榮地產目標價為6.10元。
伴隨股價的非理性下跌，地產股近期頻繁發生增持潮。8月4日，保利地產發佈股東增持報吿。近期，旭輝控股、建業地產、朗詩地產等亦發公吿增持公司股份。
興業證券策略組在此前研報中認為，投資者可以把握股東增持事件，行業板塊淨增持規模回升往往成為底部行情標誌，而估值偏低+基本面佔優個股易獲得股東增持。
得益於穩健的基本面，正榮地產近期獲多家機構充分認可。海通國際、匯豐、巴克萊、招銀國際、晨星、德意志銀行、華泰證券、建銀國際、野村證券等機構發佈研報對正榮中期業績予以點評，均看好其持續改善的財務狀況以及融資渠道的持續拓展。
如建銀國際認為，正榮地產核心利潤率在同業中處於合理水平，預期正榮將在 2021 年底前達到三條紅線的 " 綠檔 "，並認為正榮的管理層一直較為務實，在財務安全和盈利增長之間尋找平衡。維持正榮地產 " 買入 " 評級。
海通國際在研報中認為，正榮地產中期業績增長強勁，有望達到全年的預測；全年毛利率料較中期有所上升；權益土地成本佔權益合約銷售額的比率高於行業均值，拿地積極；且財務狀況良好，相當可控，對正榮地產的新目標價定為6.10港元
據正榮地產2021年中期業績數據顯示，正榮地產(06158.HK)上半年營業收入160億元，同比增長10%；淨利潤15億元，同比增長18%；歸母核心淨利潤12.0億元，同比增長31.7%。
在業績穩健增長的同時，正榮地產“三道紅線”接近全面達標。中報數據顯示，正榮地產的淨負債率57.2%，較2020年底下降7.5個百分點；剔除預收賬款的資產負債率72.4%，相比上年末下降4.2個百分點；現金短債比2.2倍，短期負債在債務中的佔比繼續下降至28.5%。正榮地產管理層表示，公司爭取在今年底“三道紅線”指標全部達標。
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