郭家耀:企業抽水或利淡港股氣氛 鐵塔(00788.HK)股息有望持續增長
港灣家族辦公室業務發展總監郭家耀稱,美股週一(24日)大幅反彈,市場對關稅措施憂慮舒紓緩,加上大型科技股走勢向好,大市高開後持續向上,三大指數均錄得顯着升幅收市。美元走勢向好,美國十年期債息回升至4.33釐水平,金價反覆回落,油價表現向上。港股預託證券大致偏軟,預料大市早段跟隨低開。
內地股市昨日上升,滬綜指反覆高收,收市上升0.2%,滬深兩市成交額有所縮減。
港股昨日反覆上升,指數一度好淡爭持,尾市跟隨外圍向上,逼近24,000點水平,大市成交顯着減少。外圍反彈有利大市氣氛,不過企業集資活動或影響資金入市態度,預料指數繼續於23,200至24,200點水平上落。
另中國鐵塔(00788.HK)公佈去年盈利107.29億元人民幣(下同),按年上升10%。末期息每股30.796分,連同中期股息10.9分,全年股息41.696分,按年增長11.5%,派息比率爲76%。去年營業收入錄977.72億元,按年上升4%。當中,室內分佈式天線系統業務收入增長18.1%至84.3億元,塔類業務收入增長0.9%至756.89億元。另外,智聯及能源業務收入分別按年增長22.4%及6.2%,至89.11億及44.77億元。期內,公司EBITDA達665.59億元,按年增長4.7%,EBITDA率68.1%。全年資本開支爲319.41億元;淨債務槓桿率爲31%,按年下降0.4個百分點。
截至去年12月底止,公司塔類站址數209.4萬個,較2023年底增加4.8萬個,運營商塔類租戶達到354.4萬戶,較2023年底增加12萬戶,運營商塔類站均租戶數提升至1.72戶,對比2023年12月底爲1.68戶。中國鐵塔表示,室內分佈式天線系統業務收入繼續保持雙位數增幅,反映5G深度廣度覆蓋加強及加快「寬帶邊疆」建設等國家戰略推進取得成效,隨萬物互聯持續增長,相信室內分佈式天線系統業務可保持快速增長。
另外,邊緣算力是國家發展及產業智能化發展的數字化底座,中國鐵塔營運及管理的塔類站址數量達到近210萬個,其中邊緣算力機房已達100萬座,未來將深化與算力提供商合作,亦會從邊緣算力共享、邊緣基礎設施共享及邊緣計算空間三個方面發展。中國鐵塔營運效率和利潤率提高,折舊費用大幅減少,帶動盈利向上。公司資本開支穩定,現金流的改善,預計股息可持續增長。人工智能帶動雲計算需求不斷增長,有助推動電信和數據中心運營商的租賃需求,利好中國鐵塔業務前景。
(筆者爲證監會持牌人,本人及相關人士沒持有上述股份)~
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