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中远海控(601919):业绩同比增长,港口业务亮眼
Hua Yuan Zheng Quan· 2025-09-02 10:56
Investment Rating - The investment rating for the company is "Accumulate" (maintained) [6] Core Views - The company reported a year-on-year revenue growth of 7.78% in the first half of 2025, with a total revenue of 109.1 billion yuan, despite a slight decline of 3.39% in Q2 [8] - The growth in container shipping volume and profitability from port operations supported the company's performance [8] - The company plans to distribute a cash dividend of 0.56 yuan per share for the mid-term, reflecting a dividend payout ratio of approximately 50%, which is a 7.69% increase compared to the same period in 2024 [8] - The company is expected to maintain stable profits in the future due to a solid industry structure and its dividend attributes [8] Financial Summary - Revenue projections for the company are as follows: 2023: 175.448 billion yuan, 2024: 233.859 billion yuan, 2025E: 192.372 billion yuan, 2026E: 180.483 billion yuan, 2027E: 191.742 billion yuan [7] - The net profit attributable to the parent company is projected to be: 2023: 23.86 billion yuan, 2024: 49.1 billion yuan, 2025E: 25.525 billion yuan, 2026E: 19.036 billion yuan, 2027E: 20.09 billion yuan [7] - The company’s earnings per share (EPS) are expected to be: 2023: 1.54 yuan, 2024: 3.17 yuan, 2025E: 1.65 yuan, 2026E: 1.23 yuan, 2027E: 1.30 yuan [7] - The return on equity (ROE) is projected to be: 2023: 12.17%, 2024: 20.92%, 2025E: 10.32%, 2026E: 7.41%, 2027E: 7.52% [7]
A股节后有望迎来“开门红”;关注银行股投资价值
Mei Ri Jing Ji Xin Wen· 2025-05-06 01:04
中泰证券研报指出,红利属性凸显,关注银行股投资价值。银行股红利属性凸显,建议积极关注银行股 的投资价值,关注大行、招行和优质城农商行。 NO.3 中信建投:5月市场或维持震荡格局,短期风险偏好继续边际改善 NO.1 中金:A股节后有望迎来"开门红" 5月6日,中金公司(601995)研报认为,一季度A股上市企业业绩边际改善,关税预期在小长假期间略 显和缓,港股美股在A股休市期间表现较好,国内外环境对A股整体影响偏积极,在此背景下A股节后 有望迎来"开门红"。配置层面,结合关税影响和行业景气度,建议考虑以下思路:1)景气回升并且受 关税影响不大的领域,例如DeepSeek突破加速AI产业发展,AI产业链中的云计算、算力等基础设施环 节,再到机器人、智能驾驶等应用环节,仍是重要主线。此外,部分对美敞口不高的出口链,如工程机 械、电网设备、商用车等也值得关注。2)现金流优质、与外需关联度不高的红利板块,例如水电、电 信运营商、食品饮料等行业的龙头公司。 NO.2 中泰证券(600918):红利属性凸显,关注银行股投资价值 |2025年5月6日 星期二| 中信建投(601066)证券研报认为,上周全球市场避险情绪降温 ...
百胜中国(09987):Q1 业绩符合预期,红利属性突出
SINOLINK SECURITIES· 2025-05-01 13:34
Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [5]. Core Insights - The company's Q1 performance met expectations with revenue of $2.981 billion, a slight increase of 0.8% year-on-year. System sales rose by 2%, and core operating profit reached $405 million, reflecting an 8% increase after excluding currency effects [2]. - Profitability continues to improve, with the overall restaurant profit margin at 18.6%, up by 1.0 percentage points, driven by higher gross margins and a decrease in the proportion of property rents and other operating costs [3]. - The company is making progress with new store formats, including the successful expansion of KFC and Pizza Hut, with KFC's same-store sales decline narrowing and significant increases in order volume for Pizza Hut [4]. Financial Performance Summary - For Q1, KFC's system sales increased by 3%, with a same-store sales growth rate holding steady. The restaurant profit margin improved to 19.8%, benefiting from lower raw material costs and operational efficiencies [3]. - Pizza Hut also saw a 3% increase in system sales, with a notable 17% rise in order volume. The restaurant profit margin improved to 14.4%, despite a decline in average customer spending [4]. - The company forecasts a steady improvement in same-store sales growth driven by new product marketing, price increases at KFC, and enhanced value propositions at Pizza Hut [5]. Financial Projections - The company projects net profits for 2025 to be $940 million, with a growth rate of 3.2%, and anticipates a combined shareholder return of $3 billion over 2025-2026, highlighting a strong dividend yield [5]. - Key financial metrics include projected revenue growth rates of 2.82% for 2025 and 3.83% for 2026, with a consistent increase in diluted earnings per share [10].
A股指数集体低开:沪指跌0.21%,跨境支付、离境退税等板块跌幅居前
凤凰网财经讯 4月29日,三大指数集体低开,沪指低开0.21%,深成指低开0.27%,创业板指低开 0.27%,跨境支付、离境退税等板块指数跌幅居前。 | | | | | 沪深京重要指数 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 *● | 最新 | 涨幅% | | 涨跌 | | 总手 | 现手 | 金额 | | 上证指数 | 3281.45 | -0.21 | -6.96 | 614/1304 | -0.08 | 570万 | 570万 | 44.07 乙 | | 深证成指 | 9828.46 | -0.27 | -26.74 | 754/1761 | -0.01 | 602万 | | 602万 57.74亿 | | 北证50 | 1261.93 | -1.18 | -15.10 | 88/167 | -0.67 | 9.59万 | 9.59万 | 1.83 乙 | | 创业板指 | 1929.27 | -0.27 | -5.19 | 379/865 | 0.17 | 136万 | 136万 | 21.91 Z ...
格力电器(000651):分红超预期,红利属性凸显
家用电器 上 市 公 司 2025 年 04 月 28 日 格力电器 (000651) 公 司 研 究 / 公 司 点 评 报告原因:有业绩公布需要点评 买入(维持) | 市场数据: | 2025 年 04 月 28 日 | | --- | --- | | 收盘价(元) | 46.55 | | 一年内最高/最低(元) | 52.73/36.74 | | 市净率 | 1.8 | | 股息率%(分红/股价) | 5.11 | | 流通 A 股市值(百万元) | 256,721 | | 上证指数/深证成指 | 3,288.41/9,855.20 | | 注:"股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产(元) | 25.56 | | 资产负债率% | 62.67 | | 总股本/流通 A 股(百万) | 5,601/5,515 | | 流通 B 股/H 股(百万) | -/- | 一年内股价与大盘对比走势: 04-29 05-29 06-29 07-29 08-29 09-29 10-29 11-29 12-29 01 ...