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研報掘金丨國泰君安:維持美的集團“增持”評級,H股上市臨近

國泰君安研報指出,美的集團(000333.SZ)H股發行上市獲得中國證監會備案。回顧家電AH股價歷史,家電龍頭折價率偏低。認為美的集團H股上市也將對港股市場補充優質消費、製造業上市資產標的,預計市場相對青睞,給予同樣較低折價率。假設美的H股發行價參照現價85折,摺合56.9港元/股,預計合計募資規模370.42億港元。假設2024年公司維持23年61.63%的分紅比例,按照對於公司2024年盈利預測,預計H股發行後,EPS攤薄影響下,公司股息率為4.8%,依舊有較強吸引力。維持“增持”評級。

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