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安裏研究:予中國博奇環保(2377.HK)目標價1.7港元 評級買入
格隆匯 01-18 09:31
格隆匯1月18日丨安裏研究發研報稱,中國博奇環保(2377.HK)戰略定為立足煙氣處理業務,並拓展工業污水、固廢和節能環保等多元業務,打造國際一流的綜合性綠色生態治理企業及智能型環保管家服務供貨商。節能環保業務及危固廢處理處置業務行業門坎高,集團成功進入危固廢處理處置及環保發電行業,將憑藉技術優勢和經驗達到資源協同,成為業績主要增長動力。內地工業近年加速發展令危廢處置需求增加,行業供不應求。集團收購海西景澤危固廢物處理項目,相信能推動分部業績增長,符合戰略轉型及業務發展需求。集團積極拓展新業務以配合國策“碳達峯、碳中和”。新業務在低基數效應下,該行預期跟舊有的業務產生不俗的協同效應而錄得顯着的收入上升,預期其分部收入表現將在2021年/2022年財年有近一倍的增長;預期集團2021年/2022年股東應占溢利分別約2.3億元人民幣及3億元人民幣,按年升9.5%及33.9%,予其“買入”評級,目標價1.7港元,上升空間20.6%。
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