Market Brief

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Author

許偉龍先生(Anthony Hui)
高級交易員

現任職輝立高級交易員,對投資股票經驗豐富。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。
Phone:
36533066

新奧能源控股有限公司 (02688.HK)

Thursday, March 26, 2020 Views4882

業務概要:集團業務現時主要分為燃氣接駁,管道燃氣銷售,汽車燃氣加氣站建設與運營,燃氣批發,瓶裝液化石油氣分銷,燃氣器具和材料銷售。

 

基本資料 :

現價: $73.15

市值: 823.3億

市盈率: 12.97倍

周息率: 2.283%

52週高/低: $96.85 /$60.45

10天/50天/250天平均價 : $71.775/ $86.046/ $81.374

 

業務回顧:

截至2019年12月31日止的全年業績,新奧能源的收入增長15.6%至701.83億元人民幣; 純利增長101.2%至56.7億元人民幣,業績符合預期。業績增長主要受惠於天然氣銷售業務、綜合能源銷售及服務業務和增值業務之穩健增長。

 

評論:

第一,公司將積極採取聯盟併購的方式(公司在19財年收購了30個項目,潛在的天然氣銷售為25億立方米),拓展一些在工業用氣、綜合用能等有較大潛力的優質項目。

 

第二,公司將依托國家力推圍繞京津冀、長三角及粵港澳大灣區的區域發展戰略,快速佈局打開新的增長空間。

 

第三,公司受惠油價下跌,液化天然氣長期合同的採購價格將會降低,能節省成本。

 

第四,報告期內,公司目前還有在建綜合能源項目22個,將在未來一兩年逐步投入運營,全部達產後共可實現 200.03 億千瓦時的綜合能源銷售量,能節省成本,收入未來幾年將維持較快的增長速度。

 

第五,公司的市盈率及市賬率均低於同業;運用資源的效率(ROA及ROE) 亦優於同業。

 

買賣策略
買入價: $66

目標價: $93.65

止蝕價: $59.4

 

資料來源: 阿斯達克財經網,披露易,2019年年度業績公告,新浪財經

 

註:本人許偉龍為證監會持牌人士。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。

 

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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