中東戰火催生“妖股”！資不抵債油氣股狂拉370%
伊朗與以色列衝突進入第六天，國際油價繼續攀升。
美東時間週二（6月17日）收盤，美油、布油均收漲超4%。
今日港股低價油氣股持續活躍，其中，吉星新能源一度暴漲370%，最終收漲343.18%，報0.78港元，成交額2325.42萬港元。
資料顯示，吉星新能源是一家總部位於加拿大的石油和天然氣勘探開發公司。公司重點佈局天然氣業務，同時也涉足原油、液化天然氣和冷凝液的生產。
公司擁有兩個核心區域——阿爾伯塔省山麓（Basing、Voyager）和和平河（Dawson）地區的石油和天然氣許可證。其中，Basing地區貢獻了公司約90%的收入。
儘管所處地帶資源豐富，但受限於自然氣候、油氣價格波動與高負債壓力，近年來公司經營波動劇烈，業績持續承壓。
財務數據顯示，2022年公司營收達2228.5萬加元，2023年僅1245.5 萬加元，同比驟降44.1%。2024年營收繼續暴降60.8%，跌至不足500萬加元。
淨利潤方面，自2013年以來，除了2014年實現盈利，其他年份均陷入虧損。2023年和2024年淨虧損都超過2000萬加元。
2025年第一季度，公司營收爲271.99萬加元，同比減少2.82%；淨利潤爲-357.60萬加元，去年同期虧損342.97萬加元，基本每股虧損0.01加元。
2025年第一季度，公司資產負債率爲195.64%，較2024年第四季度的182.90%上升12.74個百分點，表明公司財務槓桿有所增加。
此外，根據2024年年報，公司前五大客戶貢獻了大部分收入，其中最大客戶佔比高達62%。這種高度集中可能導致公司對單一客戶的依賴風險。
儘管公司面臨財務壓力和客戶、供應商集中度高的問題，但通過股權融資、可轉債發行、資產優化及產量恢復等措施，公司試圖改善現金流和財務狀況。
吉星新能源今日暴漲，背後仍有其投機性邏輯：
公司爲資源型企業，油氣價格上漲將顯著改善其銷售收入和現金流；市場博弈其或能借助油氣反彈階段實現“扭虧爲盈”或資產重估。
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