Market Brief

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馮兆山先生(Michael Fung)


中國春來漸現增長潛力, 價值重估在望

Friday, November 16, 2018 Views1051

- 較早前, 資金一窩蜂湧入教育股板塊, 多隻教育股相繼被炒高. 但教育板塊中仍有相對落後, 被投資者怱略的股份, 當中包括今年9月才掛牌上巿的中國春來 (1969.HK).


- 中國春來成立於2004年, 目前在河南省經營三所學校, 包括:商丘學院、安陽學院、商丘學院應用科技學院,以及於湖北省共同營運長江大學工程技術學院。


- 2017 / 2018年度在校生總數計,中國春來在華中地區民辦高等教育供應商的範疇中, 排名第一;而全國排名計則為第四。


- 學生人數、收入,以及純利為集團近年的增長亮點;在股價走勢相對其他教育股為落後的情況下,中國春來的價值有望可獲得重估.


- 根據集團提供的資料顯示,集團院校的校生總數從2014 / 2015 學年的 29,673人增加至 2017 / 2018學年的 45,210人;另外, 於湖北省共同營運的長江大學工程技術學院則有學生7,789人。


- 目前, 中國的華中地區為人口密集且發展快速的地區 – 其中, 河南省是中國所有省份中登記人口最多的省份, GDP 排名為全國第五。


- 現時, 集團已於河南省的各院校均已收購或正在收購多幅土地, 以擴張及完善學校基礎設施;另外, 集團亦銳意擴大辦學覆蓋面, 提高市場份額及加強師資隊伍, 優化教職員結構。


- 中國春來過去三年度財政狀況:



- 技術走勢分析, 看圖睇勢 –過去兩個月以來, 該股股價一直於保歷加通道的上、下軸間徘徊。目前, 1969.HK的保歷加通道上軸 = HK$1.652; 保歷加下軸 = HK$1.347;二十天移動平均線 = HK$1.50.


- 買入價 = HK$1.35, 上望第一個目標 = 保歷加通道上軸 = HK$1.65, 投資者可先行沽出一半持貨止賺。另一半持貨則可待2018年11月2日高位 = HK$1.79沽出. 止蝕價則設定為 跌穿2018年10月24日低位 = HK$1.27.


本人馮兆山為證監會持牌人士。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證券的所有 相關財務權益.


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