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趙俊邦先生 (Joseph Chiu)
助理經理

現任職輝立助理經理,投資股票經驗豐富。擅長期權及期貨倉位分析,誠意為客戶提供實戰應用策略或交流心得!
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688 中國海外發展 - 守正‧積勢

Wednesday, February 3, 2021 Views6186
上半年業績
期內,本集團收入為人民幣886.3億元(二零一九年同期:人民幣798.4億元),同比上升11.0%。經營溢利為人民幣312.6億元(二零一九年同期:人民幣313.0億元)。毛利率為30.6%,淨利潤率為23.2%,繼續維持於行業領先水平。分銷費用與行政費用佔收入比重為3.0%,保持行業最低之一。本公司股東應佔溢利為人民幣205.3億元(二零一九年同期:人民幣213.2億元),同比下降3.7%,半年股本回報率達7.1%。每股基本盈利人民幣1.87元(二零一九年同期:人民幣1.95元),同比下降3.7%。
 
於二零二零年六月三十日,本公司股東之應佔權益總額為人民幣2,950.9億元(二零一九年十二月三十一日:人民幣2,806.0億元),與去年年底相比增長5.2%,每股資產淨值則為人民幣26.93元(二零一九年十二月三十一日:人民幣25.61元)。於六月底,本集團的財務狀況良好,財務資源充足,銀行結餘及現金為人民幣1,113.8億元,淨借貸比率為32.95%。
 
物業發展
期內,本集團物業發展收入為人民幣863.5億元(二零一九年同期:人民幣776.5億元),同比上升11.2%,主要來自濟南的華山瓏城、北京的寰宇天下及中海雲熙、南京的城南公館、瀋陽的半山華府、西安的中海長安府、成都的中海雲麓世家、東莞的雲麓花園、長沙的瓏悅府、大連的萬錦公館等項目銷售。
分部溢利(包括本集團應佔聯營公司及合營公司之溢利)為人民幣273.9億元(二零一九年同期:人民幣268.8億元)。
 
截至二零二零年六月三十日止,本集團系列公司(但不含中海宏洋)土地儲備為6,372萬平方米(實際權益為5,252萬平方米)。主要聯營公司中海宏洋新增土地儲備18幅,合計新增總樓面面積413萬平方米。截至二零二零年六月三十日止,其土地儲備有2,634萬平方米(實際權益為2,366萬平方米)。本集團系列公司合計土地儲備達到9,006萬平米。
期內,合營和聯營項目為本集團貢獻淨利潤達人民幣25.4億元。主要聯營公司中海宏洋錄得合約物業銷售額人民幣278.7億元,收入為人民幣161.1億元,淨利潤為人民幣20.8億元,為本集團提供了人民幣7.8億元淨利潤。
 
物業投資
本集團期內投資物業租金收入為人民幣19.2億元(二零一九年同期:人民幣18.1億元),同比上升6.2%。期內,本集團持續深化資產管理,提升管理精細度,打通投資、融資、運營、退出全鏈條閉環。
分部溢利為人民幣64.9億元(二零一九年同期:人民幣58.9億元),同比上升10.3%,其中人民幣52.0億元為投資物業之公允價值增加(計提遞延稅後本公司股東應佔淨收益為人民幣31.8億元)。
 
 
每股基本盈利
人民幣1.87元
 
中期股息
每股45仙
 
建議時股價$17.74
目標價$22.36
十二個月目標價$26.38
止蝕$14.9
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