Core Viewpoint - Bohai Leasing's stock closed at 3.45 yuan, up 1.77%, with a rolling PE ratio of 18.01, marking a new low in 84 days, and a total market capitalization of 21.337 billion yuan [1] Company Summary - Bohai Leasing's main business includes leasing services and production for aircraft, containers, domestic infrastructure, high-end equipment, commercial properties, and new energy [1] - The company's primary products consist of aircraft leasing, aircraft sales, container leasing, container sales, operating leasing, financing leasing, and financing leasing consulting [1] - For Q1 2025, the company reported operating revenue of 17.117 billion yuan, a year-on-year increase of 99.82%, and a net profit of 669 million yuan, up 72.21%, with a gross profit margin of 24.75% [1] Industry Summary - The average PE ratio for the multi-financial industry is 73.98, with a median of 27.79, placing Bohai Leasing in 9th position within the industry [2] - As of Q1 2025, 19 institutions hold shares in Bohai Leasing, including 12 funds and 7 other entities, with a total shareholding of 3.07232 billion shares valued at 10.231 billion yuan [1]

最新一期业绩显示，2025年一季报，公司实现营业收入171.17亿元，同比99.82%；净利润6.69亿元，同 比72.21%，销售毛利率24.75%。 从行业市盈率排名来看，公司所处的多元金融行业市盈率平均72.83倍，行业中值28.94倍，渤海租赁排 名第9位。 资金流向方面，6月26日，渤海租赁主力资金净流出4415.17万元，近5日总体呈流入状态，5日共流入 149.00万元。 渤海租赁股份有限公司的主营业务是飞机、集装箱及境内基础设施、高端设备、商业物业、新能源的租 赁服务与生产。公司的主要产品是飞机租赁、飞机销售、集装箱租赁、集装箱销售、经营租赁、融资租 赁、融资租赁咨询。 6月26日，渤海租赁今日收盘3.34元，下跌1.47%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到17.44倍，总市值206.56亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)5渤海租赁17.4422.850.65206.56亿行业平均 72.8340.341.77214.44亿行业中值28.9423.731.69184.10亿1江苏金租11.8812.131.43356.81亿2陕国投 A1 ...

6月19日，渤海租赁今日收盘3.13元，下跌1.88%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到16.34倍，总市值193.58亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)5渤海租赁16.3421.410.61193.58亿行业平均 61.7562.751.56198.58亿行业中值26.4421.901.55170.30亿1江苏金租11.6911.931.41351.02亿2陕国投 A12.3412.510.93170.30亿3越秀资本12.8913.951.05320.09亿4国网英大16.0017.911.28281.92亿6浙江东方 18.9321.231.26198.78亿7瑞达期货19.5319.972.6776.41亿8中油资本21.2919.190.87892.53亿9南华期货 26.4426.442.92121.10亿10永安期货39.2334.551.55198.68亿11中粮资本40.0321.901.22264.97亿12海德股份 56.3633.102.05109.26亿 从行业市盈率排名来看，公司所处的多元金融行业市盈率平均61.75倍，行业中 ...

转自：前瞻产业研究院 行业主要上市公司：江苏金租(600901.SH)、国银金租(01606.HK)、渤海租赁(000415.SZ)、远东宏信 (03360.HK)、海通恒信(01905.HK)等 本文核心数据：融资租赁行业上市公司汇总、融资租赁行业上市公司业务布局、融资租赁行业上市公司 业务业绩 1、融资租赁行业上市公司汇总 中国融资租赁行业的上市公司数量已超过20家，其中融资租赁上市公司主要集中在港股市场。港股对融 资租赁企业的包容性较强，上市门槛相对较低，且融资环境较为灵活，吸引了大量融资租赁企业选择在 港股上市。相比之下，内地对融资租赁公司上市的限制较为严格，A股市场仅渤海租赁和江苏租赁两家 融资租赁公司成功上市。这种差异使得港股成为融资租赁企业寻求上市融资的重要选择，进一步推动了 该行业在港股市场的集聚发展。 | 产业链环节 | 公司简称(股票代码) | 要点 | 关联度 | | --- | --- | --- | --- | | | 江苏金租(600901.SH) | 国内领先的金融租赁公司,深耕汽车金融与绿色能源 领域,股东背景强大 | ***** | | | 国银金租 (01606.HK) | ...

Core Viewpoint - Bohai Leasing plans to sell 100% equity of its subsidiary Global Sea Containers Ltd (GSCL) for approximately $1.632 billion, aiming to focus on its core aircraft leasing business and improve its debt structure [1][2][3] Group 1: Transaction Details - The base price for the transaction is set at $1.75 billion, with an adjusted price of approximately $1.632 billion by the end of 2024, equivalent to about 11.752 billion RMB [1] - The buyer is Typewriter Ascend, a wholly-owned subsidiary of Stonepeak, which manages approximately $73 billion in assets focused on infrastructure and real assets [1] - GSCL operates a fleet of approximately 4.055 million CEUs with an average utilization rate of 98.5%, serving around 750 leasing customers globally [1] Group 2: Financial Implications - The company has invested approximately $1.34 billion in GSCL, and the sale price exceeds this historical investment amount [2] - Proceeds from the sale will primarily be used to repay high-interest offshore dollar debts and improve cash flow domestically, effectively enhancing the company's asset-liability structure [2][3] - As of December 31, 2024, Bohai Leasing has overdue debts amounting to approximately 1.783 billion RMB, with short-term debts due within a year totaling about 7.6 billion RMB [2] Group 3: Market Context and Strategic Focus - The container leasing market is highly competitive, involving shipping companies, container leasing firms, and manufacturers [4] - Post-transaction, the company will no longer engage in container leasing, allowing it to mitigate risks associated with global trade fluctuations and concentrate on aircraft leasing [4] - The company aims to capitalize on the recovery of the global aviation industry, enhancing its competitive advantage and profitability in the aircraft leasing sector [4]

Group 1 - The company announced that its wholly-owned subsidiary, Global Sea Containers Two Limited (GSCTL), intends to transfer 100% equity of its subsidiary, Global Sea Containers Ltd (GSCL), to Typewriter Ascend for a cash payment [1] - The base price for the transaction is set at $1.75 billion, with an adjusted transaction price of approximately $1.632 billion by the end of 2024 [1] - GSCL specializes in container leasing, managing a fleet of approximately 4.055 million CEUs with an average utilization rate of 98.50% [1] Group 2 - The proceeds from the transaction will be used primarily to repay high-interest offshore dollar debts and improve cash flow domestically [2] - After the completion of the transaction, the company will no longer operate in the container leasing business, allowing it to mitigate risks associated with global trade fluctuations and refocus on its core aircraft leasing business [2]

Core Viewpoint - The company intends to transfer 100% equity of its subsidiary Global Sea Containers Ltd (GSCL) to Typewriter Ascend Ltd, a subsidiary of Stonepeak Partners LLC, for a base price of $1.75 billion, with potential adjustments based on specific conditions [1][3][17]. Transaction Overview - The transaction has been approved by the company's board and requires various regulatory approvals, including antitrust reviews in multiple jurisdictions [1][3][19]. - The base price for the transaction is set at $1.75 billion, with adjustments based on additional considerations and potential leakage amounts [3][10][17]. Financial Details - The estimated final transaction price, after adjustments, is approximately $1.632 billion, equivalent to about 12.752 billion RMB [3][17]. - GSCL's financial data shows total assets of approximately 43.41 billion RMB and net profits of 1.25 billion RMB for 2023 [6][19]. Buyer Information - Typewriter Ascend is a wholly-owned subsidiary of Typewriter Topco, managed by Stonepeak Partners LLC, which has approximately $73 billion in assets under management [4][5]. Purpose of the Sale - The proceeds from the sale will primarily be used to repay high-interest offshore dollar debts and improve cash flow, which is crucial for the company's financial health [18][20]. - The company aims to focus on its core aircraft leasing business post-transaction, mitigating risks associated with the container leasing market [20][21]. Market Context - The container leasing market is characterized by intense competition among shipping companies, leasing firms, and manufacturers, making it a challenging environment [20]. - The transaction is expected to enhance the company's operational capabilities and financial stability, allowing it to capitalize on opportunities in the recovering aviation sector [20].

相关企业：上海东柜联集装箱租赁有限公司、东方国际集装箱(连云港)有限公司、弘信创业工场投资集 团股份有限公司、天津渤海租赁有限公司、上海居莱安集装箱租赁有限公司、南宁柜族集装箱租赁有限 公司、常州市得劳斯集装箱移动板房有限公司等。 内容概要：集装箱租赁行业是物流领域中的核心支柱之一，致力于提供包括海运、陆运及空运等各类运 输方式所需的集装箱租赁服务。该行业自20世纪60年代集装箱化运输兴起以来，逐步从初步探索阶段迈 入成熟市场运作阶段。近年来，随着全球化的不断推进和跨境贸易的增加，集装箱租赁行业发展迅速。 中国作为世界上最大的集装箱生产国和消费国之一，集装箱租赁行业市场规模保持上升趋势。据统计， 2024年中国集装箱租赁行业市场规模达到300亿元左右，同比上涨8.3%。预计未来中国集装箱租赁行业 的市场规模将持续扩大。特别是在新兴市场的快速发展，进一步推动了集装箱租赁市场的发展。 相关上市企业：中集集团（000039）、胜狮货柜（00716）、中远海控（601919）、渤海租赁 （000415）、中国外运（601598）、上港集团（600018）、中远海发（601866）、飞鹿股份 （300665）、集泰股份 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [5]. Core Views - The company is identified as a leading player in the aircraft leasing sector, with expected performance improvements in the current economic cycle [5]. - The report highlights strong growth in aircraft sales and an increase in rental yield, driven by rising aircraft market prices and strategic asset management [7]. - The company is projected to benefit from a tightening aircraft supply, leading to increased rental income and improved profit margins [7]. Financial Summary - Revenue projections for the company show a significant increase from 33,675 million RMB in 2023 to 47,621 million RMB in 2025, reflecting a compound annual growth rate (CAGR) of 23.91% [6]. - The net profit attributable to shareholders is expected to rise from 1,281 million RMB in 2023 to 1,913 million RMB in 2025, with a notable growth rate of 111.58% in 2025 [6]. - The earnings per share (EPS) is forecasted to increase from 0.21 RMB in 2023 to 0.31 RMB in 2025, indicating a positive trend in profitability [6]. Business Overview - The company has rapidly expanded through acquisitions and focuses on operational leasing, with aircraft and container leasing as its primary business segments [7]. - By the end of 2024, the company is expected to have a fleet of 1,158 aircraft, maintaining a 100% rental rate, which positions it as the second-largest aircraft leasing company globally [7]. - The company is exploring innovative business opportunities in emerging fields such as eVTOL, CTOL, and hydrogen aviation, aiming to diversify its growth avenues [7].