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富瑞:融創服務(1516.HK)購第一服務助提升每股盈利 評級“買入”
格隆匯 11-02 16:31

富瑞發研報指,融創服務(1516.HK)早前收購第一服務控股(2107.HK)全部已發行股本約32.22%。該行預期,整個交易將增加集團的每股盈利、豐富其非物業業務、及增加綠色生活領域的增長動力引擎。該行予集團“買入”評級,目標價30.68港元。

報吿提到,基於融創服務截至上半年的手頭現金為84億元人民幣,預期集團可以利用其內部資源為整個價值21.5億元的收購提供足夠的資金。該行假設要約於明年上半年完成,預計交易將在2022財年將融創服務管理的建築面積提升至3.75億平方米,按年增長60%,並提升其2022至23財年每股盈利4%至5%。大和表示,上調集團2022至23年的盈測2%至3%,以反映該收購,但基於近期房地產市場疲弱,料非社區增值服務增長放緩。該行維持集團為行業首選,相信集團強大的執行力及良好的服務質量將在項目招標或併購方面繼續領先同行。

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