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天风证券:中滙集团(0382.HK)收入业绩持续高增 品质突出外延落地 目标价12.9港元 维持买入评级
格隆汇 04-30 13:28
格隆汇4月30日丨天风证券发研报指,中滙集团(0382.HK)2021财年上半年收入5.54亿元,同比增长32.5%,主要是由于报告期内的在校学生人数及平均学费上升导致。学费是主要收入来源,国内学校贡献绝大多数营收。报告还称,中汇集团旗下7间国内外学校总在校生数6.24万人,同比增长76.8%;平均学费1.57万元,同比增长45.4%。公司在校生人数学费实现双增长,疫情对行业冲击较小。天风证券指出,集团在国内外运营多所学校,其中包括位于中国广东省的两家民办高等教育机构,即本科广州华商学院及专科广州华商职业学院;位于澳洲的澳洲国际商学院和澳大利亚中滙学院及位于新加坡的新加坡中滙学院。今年集团国内的校网拓展取得新进展,成功收购位于四川省成都市的两所学校四川城市职业学院及四川城市技师学院。该行预计中滙2021-22财年净利分别为4.5亿元、7亿元,分别对应16.9倍和10.9倍市盈率;维持公司“买入”评级,目标价12.9港元。
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