《大行報告》大摩:中遠海控(01919.HK)上季盈利疲弱顯示其正常化派息前景無吸引力
大摩發表報告指,中遠海控(01919.HK)預計按照中國會計準則的去年淨利潤為240億元人民幣(下同),按年下降78.2%。這意味著去年第四季經常性淨利潤為18億元,與第第三季55億元相比大幅下降,除息稅前利潤為34億元,亦較第三季85億元下跌。
大摩認為,中遠海控上季盈利低過該行預期。假定派息比率為30至50%,去年下半年中遠海控的隱含股息率為2至3%,並不吸引。另外,運價短期反彈可能會導致2024年第一季盈利上升,但供過於求導致的下行周期尚未結束。而紅海航運正常化的任何跡象都將成為負面的股價催化劑。該行對中遠海控評級為「減持」,目標價6港元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.