Market Brief

The articles are produced in Chinese only.

Author

邱俊瑜先生 (Porter Yau)
經理

主要按基本因素選股,但有時也會參考圖表、技術分析。除股票外,亦經常研究期權 。歡迎來電賜教或交流心得。
Phone:
36517388

瑞安房地產有限公司 (272)

Monday, June 21, 2021 Views6116

 

主要業

主要於中國從事地產發展,包括開發、銷售、租賃、管理及長期持有住宅、辦公室、零售、娛樂及文化物業。

 

業績報告

2020年度,集團營業額下跌55﹒8%至45﹒97億元(人民幣;下同),業績轉盈為虧,錄得股東應佔虧損7﹒4億元。年內,集團業務概況如下:
    (一)集團核心溢利下降37﹒8%至14﹒46億元;整體毛利減少55﹒8%至23﹒5億元,毛利率持平於51﹒1%;
    (二)物業發展:營業額下跌78﹒8%至15﹒37億元,佔總營業額33﹒4%,分部溢利下降94﹒5%至1﹒85億元;
       1﹒年內,集團合約物業銷售額達211﹒84億元,增加69﹒5%;其中,住宅物業銷售佔99%及餘下為商業物業銷售;住宅物業銷售的平均售價增長89%至每平方米58﹐200元;
       2﹒於2020年12月31日,集團土地儲備的總建築面積為860萬平方米,包括640萬平方米的可供出租及可供銷售面積,及220萬平方米的會所、停車場和其他設施;合共11個發展項目,分布於上海、武漢、佛山及重慶;
    (三)物業投資:營業額減少8﹒8%至21﹒38億元,業績轉盈為虧,錄得分部虧損8﹒02億元;
    (四)建築:營業額上升28﹒4%至6﹒91億元,並無錄得分部業績;
    (五)於2020年12月31日,集團之現金及銀行存款合計為144﹒83億元,借貸為368﹒59億元。淨資產負債率(以優先票據、證券化安排的收款以及銀行借貸總和減去銀行結餘及現金兩者間的差額,除以權益總額)為45%(2019年12月31日:52%)。

 

股權披露

過往股本變化

走勢圖與建議

 

瑞安房地產有限公司現時股價為港幣1.33元,PB只有0.232倍!股價處於近6年地位。比過往的配售價更低;大股東亦密密增持股份,有閑錢的朋友可以跟大股東買入。盼望日後恢復派息或私有化的想象空間。(業績沒有想象空間,可以不理)

建議買入價:1.2-1.35(收集)

目標價:2.5

 

另外,大股東亦密密加持姐妹公司瑞安建業983,它的PB亦只有0.202倍!

 

 

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