江蘇寧滬(00177.HK):向股東收購蘇南高速資產料可成未來收入和利潤增長點
江蘇寧滬高速(00177.HK)(600377.SH)公布,有關於1月30日收到上交所上市公司管理一部《關於江蘇寧滬高速公路股份大額現金收購控股股東資產相關事項的監管工作函》,公司回覆指出,收購標的公司可鞏固其蘇南地區路網營運商地位,支持公司戰略發展;標的資產區域地位優越,開展標的資產收購有利於促進公司業務協同發展;標的資產營運趨勢向好,收購時機適宜。
此外,公司指是次收購標的資產行為對上市公司正常生產經營、財務穩定性和流動性均不會產生不利影響。
從公司戰略資產配置來看,收購蘇錫常南部高速將進一步完善公司在蘇南路網的佈局,擴大公司營運公路規模與範圍,蘇錫常南部高速是公司目前戰略投資不可多得的資產並預計是未來收入和利潤增長點。
從目標公司自身營運情況和財務狀況來看,自開通以來,標的資產車流量處於快速增長期,去年首十個月營業虧損約為1.7億元人民幣(下同),較2022年同期虧損2.49億元已有所收窄;營業收入4.98億元已可抵銷營業成本4.44億元。隨著收費公路的營運,建設貸款等融資還款期已開始,財務費用幣2.241億元已較2022年同期減少0.27億元,預計此次收購可在短期內獲取收益和在未來成為公司的利潤新增長點。
此外,公司預計標的公司所有有息債務可於2041年結清,經營期內資產負債率整體健康,現金流相對充裕,債務清償能力良好。
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