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城建发展(600266):项目结转进入摘果期 营收利润同比大幅提升
Xin Lang Cai Jing· 2026-01-10 14:24
Group 1 - The company achieved a significant year-on-year improvement in revenue and a substantial increase in net profit attributable to shareholders, with operating income reaching 19.311 billion yuan, up 64.20%, and net profit attributable to shareholders at 0.765 billion yuan, up 40.24% due to increased project turnover and a rise in the value of financial assets [1] - The company reported a decline in sales amounting to 18.53 billion yuan, down 23.33% year-on-year, with equity sales down 11.25% to 12.23 billion yuan, indicating a reduction in land acquisition rights and project development risks [2] - The company is expanding its investment into multiple sectors, including commercial aerospace, holding an 8.61% stake in a leading satellite technology firm, which enhances its position in the satellite remote sensing and space information service industry [3] Group 2 - The company forecasts revenue growth for 2025-2027, estimating 26.964 billion yuan, 28.998 billion yuan, and 32.307 billion yuan respectively, with year-on-year growth rates of 5.98%, 7.54%, and 11.41% [3] - The projected net profit attributable to shareholders for 2025-2027 is 1.152 billion yuan, 1.819 billion yuan, and 2.593 billion yuan, with corresponding growth rates of 221.08%, 57.95%, and 42.55% [3] - The company maintains a "recommended" rating with projected PE multiples of 12.29X, 7.78X, and 5.46X for the years 2025-2027 [3]