《大行報告》花旗對粵投(00270.HK)展開30日負面催化劑觀察 料中期少賺10%
花旗發表報告,料粵投(00270.HK)上半年純利按年跌10.2%至26.5億元,遠低於市場預期按年升24.9%。該行料其純利下跌歸因於粵海置地在合約銷售下降下盈利貢獻減少;人民幣兌港元按年貶值5%至6%(粵投主要業務在內地,以人民幣計值,但財務報表以港元計算),或抵銷火電業務單位成本下降、酒店佔用率及房價上升,以及疫情後百貨銷售復甦帶來的盈利上升。
該行對粵投展開30日負面催化劑觀察,即使中績盈利料跌,惟該行料中期股息按年升3%至每股19.27港仙。長遠而言,9至10月應會簽訂新一份(2024至2026年)三年向本港供水協議;該行假設粵投未來三年向港供水相關收入每年將升1%至2%。予目標價9.9元,評級「買入」。
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