研報掘金丨中金:調高港交所盈利預測,目標價調高至465港元
中金髮表報告稱,當前港股資產與資金結構已較過往“傳統行業主導、境外機構主導”格局發生顯著改變,認爲“資產+資金”持續變革有望從資產體量、估值、換手率三個維度打開港股成交活躍度中長期增長空間。上調港交所(0388.HK)盈利預測,將目標價調高至465港元。中金指出,“A+H”上市與中概潛在迴流催生優質資產增量,“新經濟”權重提升撬動估值及換手中樞。有望持續爲港股注入優質企業,進而吸納增量流動性,未來港股新經濟股市值佔比將進一步提升,也有望推動港股估值上移及交易活躍提升。假設當前符合要求且未返港中概股全部回港上市,疊加已回港二次/雙重上市企業交易持續迴流,則中概股潛在迴流或可增厚港股總市值約4.2萬億港元、佔港股當前總市值約10%,日均成交額406億港元、佔今年以來日均成交額約17%。中金將今年日均成交額預測,由1750億港元上調至約2100億港元,明年則由1978億港元,升至2420億港元。港交所今年盈利預測升5.67%,至152.6億港元,明年盈利預測調高6.97%,至165.86億港元。未來10年港股日均成交額年複合增長料14%,其中預測港股總市值年複合增長12%,換手率中樞提升貢獻年化2%增速、由今年129%提升至2035年162%,對應港交所未來10年淨利潤年複合增長爲12%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.