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首程控股(0697.HK):低資產負債率+AAA連獲,首程控股財務韌性再獲權威背書
格隆匯 03-27 08:25
首程控股(0697.HK)發佈2024年度的全年業績。首程控股在2024年繼續鞏固其健康的資產結構,展現出強勁的財務韌性和融資能力,爲基礎設施資產管理業務的深化佈局奠定堅實基礎。財報顯示,公司2024年實現收入達到12.15億港元,較去年同期增長37.5%。截至2024年12月31日,公司資產負債率爲31.2%。在行業中處於較低水準。在過去的一年中,公司合理利用槓桿,主動運用低成本融資工具優化債務結構。2024年5月,公司在境內成功發行首單人民幣5億元3年期中期票據,票面利率低至2.5%,發行時其發行價格更是創下北京市屬境外註冊企業同期限發行利率新低。這一低成本資金不僅優化了債務結構,更爲其基礎設施資產管理業務的產業鏈佈局提供了堅實的信用支撐。此外,公司年內還通過發行停車資產類REITs產品(如第二期規模3.7億元、優先級利率2.4%),進一步盤活存量資產並加速資金循環,強化“資產收購/投資建設—資產培育—運營提效—資產證券化—資金迴流”的生態閉環。值得注意的是,2024年中誠信國際與聯合資信兩大權威評級機構再次授予公司AAA主體信用評級,體現了頭部評級機構對公司運營能力、資產質量及履約能力等綜合實力的高度認可,並展現了其對公司發展前景的看好。這進一步鞏固了首程控股在資本市場的信用優勢,且有利於首程控股在資本市場的形象提升。由此可見,首程控股通過低息債務工具與資產證券化雙輪驅動,顯著降低了融資成本並提升資金使用效率。結合充裕的現金儲備及AAA級信用背書,公司已構建起“高流動性資產+高可變現資產+低成本負債”的財務護城河,爲捕捉市場機遇、實現規模化擴張奠定堅實基礎。爲回饋股東,公告顯示,董事會建議宣派至2024年12月31日止年度之末期股息及特別派息合計共8.88億港元。加上2024年中期股息港幣2.08億元,合計10.96億港元。
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