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《大行報告》瑞銀:綠城管理(09979.HK)上半年多賺33% 略勝預期
瑞銀髮表研究報告指,綠城管理(09979.HK)上半年純利按年增長33.4%至約3.6億元人民幣,略高於該行增長30%的預期,增長強勁相信主要來自於毛利率擴張至50.4%、成本控制措施見效,以及其他收入按年增加83%的帶動。 上半年公司新增合約建築面積爲1,320萬平方米,當中有70%來自政府部門、國企及金融機構;新項目管理費達40.6億元人民幣,而政府部門、國企及金融機構貢獻達60%。該行指出,在當局「共同富裕」政策方針的推動下,國企及地方政府融資平臺都積極參與土地拍賣,綠城管理開始爲相關項目提供開發和諮詢服務,預期管理需求持續上升,公司將因此受惠。 瑞銀重申對綠城管理的「買入」評級,目標價8.3元,對應預測2022年市盈率約18倍。
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