Market Brief

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Author

鄭錦華先生 (John Cheng)
助理經理

畢業於嶺南大學市場學系, 現任職輝立助理經理, 對投資股票、期權經驗豐富。 本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
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中海物業集團有限公司 (2669)

Tuesday, July 5, 2022 Views6281

2669  中海物業集團有限公司  CHINA OVERSEAS PROPERTY HOLDINGS LIMITED

 

團業務

集團於2015年10月由中國海外發展(00688)分拆上市,主要於中國內地、香港及澳門從事物業管理業務(如保安、維修及保養、清潔及綠化、為物業發展商提供交付前服務、協助入伙服務、交付查驗服務及工程服務質量監控與諮詢服務)及提供相關增值服務,包括工程服務(如自動化諮詢、工程產品銷售,及檢查、維修、保養及設備升級改造),以及社區租賃、銷售及其他服務。

 

業務回顧

2021年度,集團營業額上升44﹒3%至94﹒42億元,股東應佔溢利增加40﹒6%至9﹒84億元。年內業務概況如下:

(一)整體毛利增加37﹒3%至16﹒42億元,毛利率則下跌0﹒9個百分點至17﹒4%;
(二)物業管理服務:營業額上升36﹒1%至66﹒11億元,佔總營業額70%,分部溢利增加31﹒5%至8﹒82億元,分部毛利率則下跌1﹒2個百分點至14﹒9%。年內,集團管理中物業之總建築面積增加38﹒9%至2﹒6億平方米

 

展望未來

由於中海系的穩健性,加上其高綫級城市之定位策略,未來銷售之確定性較高,從而帶動中海物業的規模增長。在行業整合的背景下,作為央企頭部地產發展商,中海系的發展更為有利。

 

建議買入價: 8.00

目標價: 10.00

止蝕價: 7.50

 

註:本人鄭錦華為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。

 

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