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黃家豪先生(Karl Wong)
交易員

現任職輝立交易員,有多年投資股票、期權及期貨經驗。歡迎各位交流心得。
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香港寬頻 以香港為家

Wednesday, March 20, 2019 Views424

香港寬頻(1310.HK)是香港主要的寬頻服務供商,主要為住宅及企業提供寬頻及通訊服務。於住宅方面集團提供高速光纖寬頻、流動通訊服務、家居電話、Over-The-Top娛樂及音樂串流及Wi-Fi管理,而企業方面則提供高速光纖商業寬頻、話音服務、流動通訊服務、數據中心服務、綜合雲端服務、Wi-Fi管理、數據連接及系統整合。

 

2018年住宅寬頻用戶達860,000戶,截至2018年7月31日的住宅寬頻服務市場佔有率達36.3%。寬頻網絡覆蓋2,400幢商業樓宇,企業客戶有57,000戶,而流動通訊用戶(住宅市場)有265,000個。於2018年,流動通訊業務是集團主要增長動力之一,用戶人數增長80%,而ARPU亦按年增長24%至每月147元。

 

2018年營業額39.49億元,按年升22.2%,純利3.97億元,按年升132%。全年共派股息每股56仙,按年增加24%, 以現價(12.6)計息率達4.4%。

 

風險: 香港的寬頻市場已經成熟並接近飽和,若要大幅增加市場佔有率並不容易。另外隨著流動通訊服務業務持續增長,相關的銷售開支亦大幅增加,香港流動通訊市場競爭激烈,成本開支不易轉嫁給消費者。

 

香港寬頻於2018年11月中由最低10.66元反覆升至今年3月中12.84元,相信已反映大部份利好因素,建議待回調至11.28元前浪底支持位吸納作中線持有。

 

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This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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