Louis Wong Commentary

Author

黃瑋傑先生(Louis Wong)
輝立証券董事

見證過去三十多年香港股市每一個牛市和熊市,可謂實戰經驗豐富。現為香港多份財經報章雜誌專欄作家,並為電視台及電台擔任客席主持。個人著作有〈炒得精叻〉、〈投資先知〉及〈股市是平的〉,並獲『中金在線』選為『2010年最受歡迎的港股分析師』。
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新股點評:建中建設(589)

Wednesday, March 18, 2020 Views2464

建中建設主要從事提供地基工程的一站式解決方案程(包括鑽孔樁、H型樁、拉森鋼板樁、地下連續牆及頂管 工程),總部位於福建省,其自有生產基地廠房面積約8,600平方米,業務遍及中國多個省份(甘肅、江蘇、浙江、上海). 公司於2016年8月獲得地基基礎工程專業承包三級資質,此後於2017年8月升級為二級資質,並於2018年6月升級為一級資質. 最新數據顯示,手頭有138個項目(包括在建項目及已獲授但尚未動工的項目),尚未結算的合約總金額約9.77億元人民幣.

 

公司過去三個年度業績增長迅速,收益由2016年度1.56億元人民幣增加至2017年度4.98億元,再增加至2018年度11.92億元;股東應佔溢利由2016年度1691萬元增至2017年度6754萬元,再增至2018年度1.4億元,毛利率維持於大約23%水平.

 

公司為福建最大的地基工程分包商及中國第三大非國有地基工程分包商,具有領導地位.公司第二大股東是海螺創業發展,佔上市前股本21.96%.公司董事長荀名紅曾在安徽海螺水泥工作十多年.以1.65元招股價計,其市值約10.3億港元,相當於6.25倍往績(2018年度)市盈率.以3月17日輝立交易場暗盤收市價1.35元計算,往績市盈率只有5.1倍,具有一定吸引力.    (筆者沒有持有上述股票)

 

本人黃瑋傑為証監會持牌人士。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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