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宏信建發(09930.HK)預期中期溢利降低80%-90%

格隆匯7月18日丨宏信建發(09930.HK)發佈公告,集團預期(i)與2024年半年度的的收入人民幣4,872,421千元相比,集團在2025年半年度錄得收入總額降低幅度爲約10%;(ii)與2024年半年度股東應佔溢利約人民幣268,228千元相比,集團在2025年半年度錄得股東應佔年內溢利降低幅度爲80%-90%。

董事會認爲集團於2025年上半年公司收入及股東應佔溢利的預期下跌主要歸因於:(i)受中國大陸設備運營行業的市場環境所影響,設備租金價格連續下降,縱然集團的高空作業平臺利用率較去年同期維持穩定,受價格因素影響,上半年國內經營性租賃收入及毛利同比呈現下降;(ii)集團對中國大陸的材料類業務整體採取主動收縮策略,並於2024年下半年至今對材料類資產進行了一定幅度處置,導致集團工程技術服務收入同比下降,且材料類業務的人工以及場地成本的清退存在時間滯後性,因此工程技術服務收入毛利率受到影響。同時,今年以來鋼材價格下行,集團通過出售材料類資產的貿易收入和毛利同比有所下降;(iii)集團今年以來繼續將國內設備和材料運送至海外業務網點經營,但該等出海設備處於整備、運輸及清關期間時無法產生業務收入,對集團設備利用率有所影響;(iv)集團海外業務分部的收入於今年上半年增長迅猛,且已實現一定盈利,但由於其仍處於成長期,業務規模基數較集團國內業務較低,海外分部的上半年盈利規模尚無法完全對衝國內市場下行影響。

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