《回顧》中石油(00857.HK)膺半年藍籌升幅王 網易比亞迪列升幅三甲
內地經濟重啟下出口放緩,加上美聯儲持續加息、內房債務問題持續及中美關係緊張下,港股上半年表現反覆。雖然國際油價今年以來回調,但今年3月全國兩會期間政府工作報告提出需深化國企改革及提高核心競爭力,令市場持續追捧「中國特色的估值體系」(中特估)投資主題下,中石油(00857.HK)受惠估值低於同業及派息吸引,上半年股價累升51.8%,為上半年「藍籌」升幅王。科網股網易-S(09999.HK)及電動車股比亞迪(01211.HK)半年各累升33.3%及29.8%,為升幅第二及第三大藍籌。
內房債務問題繼續困擾內房股及物管股表現,碧桂園(02007.HK)及同系物管股碧服(06098.HK)繼2022年分別累跌近六成後,於2023年上半年繼續大幅跑輸大市,分別累跌近40.4%及46.8%,碧服及碧桂園為上半年恆指成份股跌幅榜第一位及第二位。京東-SW(09618.HK)以39.9%跌幅位列半年跌幅榜第三位。此外,電動車股理想(02015.HK)以76.4%升幅成為半年升幅最大國指成分股及恆生科技指數成分股。
匯控(00005.HK)受惠恢復派發季息及股份回購等利好,半年累升25.6%。其餘熱門科技股方面,騰訊(00700.HK)半年累升5%,跑贏恆指同期累跌4.4%,阿里(09988.HK)累跌5.9%,美團(03690.HK)今年上半年股價則累跌近30%。
【中特估主題受捧 中石油膺升幅王】
上半年「藍籌」升幅王為中石油,半年股價累升51.8%。該股自年初3.6元水平上升,於4月升穿5元,6月升見5.79元逾五年高位。中石油3月底公布去年業績亮麗,按年多賺62%及將每股末期息按年大增逾1.2倍,券商瑞信指其為三大石油股中唯一一家增派息的油企,指股息提升和股份回購計劃均為市場帶來驚喜,全年度派息率提升至52%。而中石油藉油氣產品銷量增長及提質增效,於今年首季純利按年升12%(按季增50%),是唯一錄按年正增長的三大油企。
網易於上半年累升33.3%(待更新),為升幅第二大藍籌。內地自去年12月底宣布恢復進口遊戲審批後,包括國產遊戲審批持續增加,據花旗本月曾指內地上半年累計549款遊戲獲批,並已超出2022年共512款遊戲總數量,並料今年約1,000至1,100款網遊可獲批版號,可成行業關鍵驅動力。網易旗下休閒手遊《蛋仔派對》用戶數增長強勁,據SensorTower公布的信息,《蛋仔派對》去年12月、今年1月均位列蘋果應用商店全球熱門移動遊戲下載量榜首,成為全球下載量最高的遊戲,市場憧憬其新遊推出可帶動業務表現。
【網易「蛋仔派對」熱 比亞迪股價受捧】
比亞迪半年股價累升29.8%,為升幅第三大藍籌。該股雖然受到美國「股神」巴菲特持續減持的消息所困擾,惟股價仍由年初的不足200元升至近250元水平。比亞迪首季多賺4.11倍,大摩料公司在扣除比亞迪電子(00285.HK)貢獻後旗下每車利潤約7,000元人民幣。券商早前報告指,比亞迪第二及第三季受惠多項重估催化劑,包括鋰價下調令集團總可變成本再次下降;新產品具更高混合均價及淨利潤率;以及內地市場整合加快出口增長動力。
匯控上半年累升逾25.6%,大幅跑贏恆指。該股6月曾升穿61元創逾三年半高。匯控5月公布今年首季列賬基準除稅前利潤逾128億美元按年升211%,集團亦首度恢復派發季息,同時宣布20億美元股份回購,又披露加拿大業務可在明年首季完成出售,將利用盈餘資本進行股東回報。
科網股方面,騰訊及阿里半年分別累升5%及累跌5.9%。騰訊受惠內地網遊審批回復正常,但公司首季業績受海外附屬一次性遞延稅項影響,遊戲及廣告收入則勝預期。阿里3月下旬公布大重組,組成六大業務及多間業務集團,並各自設有CEO及董事會,以及建獨立經營負責制。市場近日亦傳出阿里擬分拆旗下盒馬鮮生在港上市,最快11月IPO。(fc/w/t)~
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