格隆匯發佈山高新能源(1250.HK)首次覆蓋報吿
格隆匯發佈山高新能源(1250.HK)首次覆蓋報吿《Charging the Cloud: SHNE’s Next Leg of Growth in Green AI Infrastructure》。山高新能源(1250.HK)是中國可再生能源轉型進程中的領先企業。公司依託擴大存量項目規模、提升項目內部收益率(IRR),並通過創新型融資工具有效降低融資成本,持續推動業務擴張。得益於兩大股東——山高控股(0412.HK)與北控水務集團(0371.HK)——在資源與管理層面的強力支持,山高新能源在行業中形成了顯著的差異化優勢和穩固的市場地位。2023年12月1日,公司成功引入來自中國平安保險集團旗下平安資產管理有限公司的人民幣50億元戰略投資,為未來增長提供了強勁的資本支撐。自2024年12月以來,公司已先後披露四筆涵蓋光伏、風電及動力電池等領域的收購交易,進一步夯實其在可再生能源市場的佈局。在AI數據中心領域,山高新能源作為發電端,與世紀互聯作為用電端形成天然的價格對沖機制,雙方戰略高度契合,構建起長期穩定的協同關係。雙方正共同探索“綠電+算力”的自主可控解決方案,助力公司在第三代互聯網數據中心(IDC)競爭中搶佔先機。截至目前,公司市值約為38億港元。根據格隆匯預測,公司2025財年預計實現收入49億港元,淨利潤3.1億港元,每股收益為0.14港元,對應市盈率為12倍,低於同業約13倍的平均水平。報吿全文可從格隆匯官網及App、彭博終端、S&P Capital IQ、LSEG Refinitiv、FactSet、Morningstar、AlphaSense等渠道獲取。
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