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可比公司估值(股价为2023年9月28日收盘价,货币均为CNY,1HKD=0.918CNY)
可比公司估值(股价为2023年9月28日收盘价,货币均为CNY,1HKD=0.918CNY)
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所属报告:
华润置地-港股公司研究报告-竞争格局改善优先受益方优质资产运营引领者-231009(43页).pdf
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2026H1公路指数(CI005353)收盘价情况(截至2026/6/30)
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行业数据
2026-07-21
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同类公司估值比较(2026年7月17日收盘价)
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行业数据
2026-07-21
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国内乙二醇期货收盘价(元/吨)
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行业数据
2026-07-02
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上市银行估值比较表(收盘价日期:2026年6月29日)
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2026-07-01
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行业数据
2026-04-22
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航宇科技盈利预测表(股价为2026年4月10日收盘价)
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行业数据
2026-04-13
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行业数据
2026-04-09
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亚洲原油实际到岸价格拆分(3月23日阿曼原油价格高点)29日,按美以伊冲突以来收盘价高点测算)
fCDpobnnm64gfCDmlbDlgLzvvIjnvo7lhYMv5qG277yJIHwKfCAtLS0gfCAtLS0gfAp8IEJyZW505Y6f5rK55Lu35qC8IHwgMTEwLjA3IHwKfCDkuK3kuJzljp/msrnnjrDotKfku7fmoLzovoNCcmVudOa6ouS7tyB8IDU5Ljk4IHwKfCDkuK3kuJzoh7PkuprmtLLov5DotLkgfCA4IHwKfCDmsrnova7kv53otLkgfCAzIHwKCui1hOaWmeadpea6kO+8mldpbmTvvIzljY7ms7DnoJTnqbY=
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行业数据
2026-03-30
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上市银行估值比较表(收盘价截至2026年3月16日)
<table>
    <thead>
        <tr>
            <th rowspan="2">名称</th>
            <th rowspan="2">代码</th>
            <th rowspan="2">收盘价<br>(元)</th>
            <th rowspan="2">自由流通市值<br>(亿元)</th>
            <th colspan="2">P/E(X)</th>
            <th colspan="2">P/B(X)</th>
            <th colspan="2">ROAE</th>
            <th colspan="2">ROAA</th>
            <th colspan="2">股息收益率</th>
        </tr>
        <tr>
            <td>26E</td>
            <td>27E</td>
            <td>26E</td>
            <td>27E</td>
            <td>26E</td>
            <td>27E</td>
            <td>26E</td>
            <td>27E</td>
            <td>26E</td>
            <td>27E</td>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>工商银行</td>
            <td>601398.SH</td>
            <td>7.25</td>
            <td>2261</td>
            <td>7.08</td>
            <td>6.78</td>
            <td>0.62</td>
            <td>0.59</td>
            <td>9.1%</td>
            <td>8.9%</td>
            <td>0.69%</td>
            <td>0.67%</td>
            <td>4.3%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>建设银行</td>
            <td>601939.SH</td>
            <td>9.18</td>
            <td>610</td>
            <td>7.00</td>
            <td>6.68</td>
            <td>0.66</td>
            <td>0.61</td>
            <td>9.7%</td>
            <td>9.5%</td>
            <td>0.80%</td>
            <td>0.79%</td>
            <td>4.2%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>中国银行</td>
            <td>601988.SH</td>
            <td>5.40</td>
            <td>660</td>
            <td>7.40</td>
            <td>7.02</td>
            <td>0.63</td>
            <td>0.60</td>
            <td>8.8%</td>
            <td>8.7%</td>
            <td>0.68%</td>
            <td>0.66%</td>
            <td>4.2%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>交通银行</td>
            <td>601328.SH</td>
            <td>6.87</td>
            <td>1578</td>
            <td>6.61</td>
            <td>6.26</td>
            <td>0.55</td>
            <td>0.51</td>
            <td>8.5%</td>
            <td>8.5%</td>
            <td>0.61%</td>
            <td>0.61%</td>
            <td>4.7%</td>
            <td>4.9%</td>
        </tr>
        <tr>
            <td>邮储银行</td>
            <td>601658.SH</td>
            <td>5.11</td>
            <td>527</td>
            <td>7.22</td>
            <td>6.87</td>
            <td>0.63</td>
            <td>0.59</td>
            <td>9.1%</td>
            <td>8.9%</td>
            <td>0.47%</td>
            <td>0.45%</td>
            <td>4.3%</td>
            <td>4.5%</td>
        </tr>
        <tr>
            <td>招商银行</td>
            <td>600036.SH</td>
            <td>39.91</td>
            <td>4677</td>
            <td>6.82</td>
            <td>6.58</td>
            <td>0.81</td>
            <td>0.75</td>
            <td>12.6%</td>
            <td>11.8%</td>
            <td>1.15%</td>
            <td>1.12%</td>
            <td>5.0%</td>
            <td>5.2%</td>
        </tr>
        <tr>
            <td>中信银行</td>
            <td>601998.SH</td>
            <td>7.56</td>
            <td>294</td>
            <td>6.14</td>
            <td>5.85</td>
            <td>0.54</td>
            <td>0.51</td>
            <td>9.1%</td>
            <td>8.9%</td>
            <td>0.70%</td>
            <td>0.69%</td>
            <td>4.8%</td>
            <td>5.0%</td>
        </tr>
        <tr>
            <td>民生银行</td>
            <td>600016.SH</td>
            <td>3.93</td>
            <td>956</td>
            <td>6.80</td>
            <td>6.69</td>
            <td>0.30</td>
            <td>0.29</td>
            <td>4.4%</td>
            <td>4.3%</td>
            <td>0.37%</td>
            <td>0.37%</td>
            <td>4.6%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>浦发银行</td>
            <td>600000.SH</td>
            <td>10.29</td>
            <td>1280</td>
            <td>7.20</td>
            <td>6.79</td>
            <td>0.47</td>
            <td>0.45</td>
            <td>6.5%</td>
            <td>6.7%</td>
            <td>0.52%</td>
            <td>0.51%</td>
            <td>3.9%</td>
            <td>4.2%</td>
        </tr>
        <tr>
            <td>兴业银行</td>
            <td>601166.SH</td>
            <td>18.83</td>
            <td>2848</td>
            <td>5.31</td>
            <td>5.09</td>
            <td>0.46</td>
            <td>0.43</td>
            <td>8.9%</td>
            <td>8.7%</td>
            <td>0.70%</td>
            <td>0.69%</td>
            <td>5.5%</td>
            <td>5.7%</td>
        </tr>
        <tr>
            <td>光大银行</td>
            <td>601818.SH</td>
            <td>3.31</td>
            <td>521</td>
            <td>5.51</td>
            <td>5.32</td>
            <td>0.37</td>
            <td>0.35</td>
            <td>6.8%</td>
            <td>6.7%</td>
            <td>0.56%</td>
            <td>0.56%</td>
            <td>5.5%</td>
            <td>5.5%</td>
        </tr>
        <tr>
            <td>华夏银行</td>
            <td>600015.SH</td>
            <td>7.15</td>
            <td>364</td>
            <td>4.41</td>
            <td>4.33</td>
            <td>0.33</td>
            <td>0.32</td>
            <td>7.8%</td>
            <td>7.5%</td>
            <td>0.65%</td>
            <td>0.63%</td>
            <td>5.6%</td>
            <td>5.7%</td>
        </tr>
        <tr>
            <td>平安银行</td>
            <td>000001.SZ</td>
            <td>10.92</td>
            <td>891</td>
            <td>5.45</td>
            <td>5.44</td>
            <td>0.44</td>
            <td>0.42</td>
            <td>8.3%</td>
            <td>7.9%</td>
            <td>0.67%</td>
            <td>0.64%</td>
            <td>5.4%</td>
            <td>5.2%</td>
        </tr>
        <tr>
            <td>浙商银行</td>
            <td>601916.SH</td>
            <td>3.10</td>
            <td>444</td>
            <td>6.79</td>
            <td>6.75</td>
            <td>0.44</td>
            <td>0.42</td>
            <td>6.7%</td>
            <td>6.4%</td>
            <td>0.40%</td>
            <td>0.39%</td>
            <td>4.9%</td>
            <td>4.8%</td>
        </tr>
        <tr>
            <td>南京银行</td>
            <td>601009.SH</td>
            <td>11.33</td>
            <td>612</td>
            <td>6.22</td>
            <td>5.72</td>
            <td>0.71</td>
            <td>0.65</td>
            <td>11.8%</td>
            <td>11.8%</td>
            <td>0.74%</td>
            <td>0.71%</td>
            <td>4.9%</td>
            <td>5.4%</td>
        </tr>
        <tr>
            <td>宁波银行</td>
            <td>002142.SZ</td>
            <td>31.13</td>
            <td>1026</td>
            <td>6.64</td>
            <td>6.06</td>
            <td>0.81</td>
            <td>0.73</td>
            <td>13.0%</td>
            <td>12.6%</td>
            <td>0.82%</td>
            <td>0.79%</td>
            <td>3.1%</td>
            <td>3.4%</td>
        </tr>
        <tr>
            <td>江苏银行</td>
            <td>600919.SH</td>
            <td>10.92</td>
            <td>1447</td>
            <td>5.52</td>
            <td>5.02</td>
            <td>0.69</td>
            <td>0.62</td>
            <td>13.2%</td>
            <td>13.0%</td>
            <td>0.85%</td>
            <td>0.84%</td>
            <td>5.2%</td>
            <td>5.7%</td>
        </tr>
        <tr>
            <td>上海银行</td>
            <td>601229.SH</td>
            <td>9.92</td>
            <td>912</td>
            <td>5.79</td>
            <td>5.48</td>
            <td>0.52</td>
            <td>0.49</td>
            <td>9.3%</td>
            <td>9.2%</td>
            <td>0.71%</td>
            <td>0.70%</td>
            <td>5.2%</td>
            <td>5.4%</td>
        </tr>
        <tr>
            <td>杭州银行</td>
            <td>600926.SH</td>
            <td>17.32</td>
            <td>851</td>
            <td>6.06</td>
            <td>5.51</td>
            <td>0.81</td>
            <td>0.72</td>
            <td>14.4%</td>
            <td>13.8%</td>
            <td>0.86%</td>
            <td>0.84%</td>
            <td>3.6%</td>
            <td>4.0%</td>
        </tr>
        <tr>
            <td>苏州银行</td>
            <td>002966.SZ</td>
            <td>8.36</td>
            <td>310</td>
            <td>6.63</td>
            <td>6.11</td>
            <td>0.68</td>
            <td>0.63</td>
            <td>10.6%</td>
            <td>10.7%</td>
            <td>0.74%</td>
            <td>0.71%</td>
            <td>4.7%</td>
            <td>5.1%</td>
        </tr>
        <tr>
            <td>成都银行</td>
            <td>601838.SH</td>
            <td>17.23</td>
            <td>379</td>
            <td>5.22</td>
            <td>4.91</td>
            <td>0.73</td>
            <td>0.66</td>
            <td>14.7%</td>
            <td>14.1%</td>
            <td>0.94%</td>
            <td>0.88%</td>
            <td>5.4%</td>
            <td>5.8%</td>
        </tr>
        <tr>
            <td>重庆银行</td>
            <td>601963.SH</td>
            <td>11.60</td>
            <td>80</td>
            <td>6.79</td>
            <td>6.12</td>
            <td>0.64</td>
            <td>0.59</td>
            <td>9.8%</td>
            <td>10.1%</td>
            <td>0.61%</td>
            <td>0.57%</td>
            <td>4.0%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>齐鲁银行</td>
            <td>601665.SH</td>
            <td>5.83</td>
            <td>219</td>
            <td>5.90</td>
            <td>5.22</td>
            <td>0.72</td>
            <td>0.66</td>
            <td>12.7%</td>
            <td>13.2%</td>
            <td>0.73%</td>
            <td>0.72%</td>
            <td>4.1%</td>
            <td>4.6%</td>
        </tr>
        <tr>
            <td>厦门银行</td>
            <td>601187.SH</td>
            <td>7.67</td>
            <td>91</td>
            <td>7.89</td>
            <td>7.26</td>
            <td>0.70</td>
            <td>0.65</td>
            <td>9.1%</td>
            <td>9.2%</td>
            <td>0.63%</td>
            <td>0.63%</td>
            <td>4.1%</td>
            <td>4.4%</td>
        </tr>
        <tr>
            <td>无锡银行</td>
            <td>600908.SH</td>
            <td>5.99</td>
            <td>91</td>
            <td>5.72</td>
            <td>5.39</td>
            <td>0.52</td>
            <td>0.48</td>
            <td>9.6%</td>
            <td>9.3%</td>
            <td>0.81%</td>
            <td>0.78%</td>
            <td>4.0%</td>
            <td>4.1%</td>
        </tr>
        <tr>
            <td>常熟银行</td>
            <td>601128.SH</td>
            <td>7.19</td>
            <td>200</td>
            <td>5.14</td>
            <td>4.71</td>
            <td>0.66</td>
            <td>0.59</td>
            <td>13.6%</td>
            <td>13.3%</td>
            <td>1.19%</td>
            <td>1.20%</td>
            <td>3.5%</td>
            <td>3.8%</td>
        </tr>
        <tr>
            <td>江阴银行</td>
            <td>002807.SZ</td>
            <td>4.68</td>
            <td>108</td>
            <td>4.98</td>
            <td>4.69</td>
            <td>0.52</td>
            <td>0.48</td>
            <td>10.9%</td>
            <td>10.6%</td>
            <td>1.01%</td>
            <td>0.99%</td>
            <td>4.7%</td>
            <td>4.8%</td>
        </tr>
        <tr>
            <td>苏农银行</td>
            <td>603323.SH</td>
            <td>5.09</td>
            <td>89</td>
            <td>4.78</td>
            <td>4.55</td>
            <td>0.47</td>
            <td>0.43</td>
            <td>10.6%</td>
            <td>10.0%</td>
            <td>0.89%</td>
            <td>0.87%</td>
            <td>3.4%</td>
            <td>3.5%</td>
        </tr>
        <tr>
            <td>张家港行</td>
            <td>002839.SZ</td>
            <td>4.63</td>
            <td>89</td>
            <td>5.93</td>
            <td>5.59</td>
            <td>0.55</td>
            <td>0.52</td>
            <td>9.7%</td>
            <td>9.6%</td>
            <td>0.81%</td>
            <td>0.80%</td>
            <td>4.4%</td>
            <td>4.6%</td>
        </tr>
        <tr>
            <td>瑞丰银行</td>
            <td>601528.SH</td>
            <td>5.64</td>
            <td>94</td>
            <td>5.20</td>
            <td>4.85</td>
            <td>0.50</td>
            <td>0.46</td>
            <td>9.9%</td>
            <td>9.8%</td>
            <td>0.84%</td>
            <td>0.82%</td>
            <td>3.7%</td>
            <td>3.9%</td>
        </tr>
        <tr>
            <td>紫金银行</td>
            <td>601860.SH</td>
            <td>2.84</td>
            <td>77</td>
            <td>7.57</td>
            <td>7.37</td>
            <td>0.42</td>
            <td>0.36</td>
            <td>5.8%</td>
            <td>5.3%</td>
            <td>0.47%</td>
            <td>0.46%</td>
            <td>3.2%</td>
            <td>3.0%</td>
        </tr>
        <tr>
            <td>中农商行</td>
            <td>601825.SH</td>
            <td>8.90</td>
            <td>496</td>
            <td>6.68</td>
            <td>6.41</td>
            <td>0.61</td>
            <td>0.57</td>
            <td>9.4%</td>
            <td>9.2%</td>
            <td>0.80%</td>
            <td>0.79%</td>
            <td>4.9%</td>
            <td>5.1%</td>
        </tr>
        <tr>
            <td>渝农商行</td>
            <td>601077.SH</td>
            <td>7.04</td>
            <td>370</td>
            <td>6.33</td>
            <td>5.86</td>
            <td>0.56</td>
            <td>0.52</td>
            <td>9.2%</td>
            <td>9.3%</td>
            <td>0.76%</td>
            <td>0.76%</td>
            <td>4.5%</td>
            <td>4.8%</td>
        </tr>
        <tr>
            <td>A股板块平均</td>
            <td></td>
            <td></td>
            <td></td>
            <td>6.43</td>
            <td>6.11</td>
            <td>0.61</td>
            <td>0.57</td>
            <td>10.0%</td>
            <td>9.7%</td>
            <td>0.76%</td>
            <td>0.74%</td>
            <td>4.7%</td>
            <td>4.9%</td>
        </tr>
    </tbody>
</table>

资料来源：Wind，公司财报，申万宏源研究
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长期投资机会东风电气(1072.HK)股价表现HKD与汇丰评级历史
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2026-03-17
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H股重点银行估值比较表(收盘价日期:2026年3月13日)
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2026-03-17
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复星国际NAV1478亿港元,对应股价7.24港元每股(百万HKD)
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2026-03-10
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2008年-2026年1月上海交易所黄金期货收盘价(单位:元/克)
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2026-03-06
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2026-07-30
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2026-07-30
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2026-07-30
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2026-07-30
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2026-07-30
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我们选取了同处于克而瑞 2022 年销售排行榜单中 TOP10、且同样具备国央企背景的、全国化布局的 3 家头部代表性房企作为可比公司(中国海外发展、招商蛇口、保利发展)。可比公司 2023/2024/2025 年的 PE 均值分别为 9.7/7.5/6.4 倍。考虑到公司业绩表现稳居市场前列,土地投资“调结构、调节奏、调布局”下以良性销售及拿地滚动为后续开发业务可持续性发展提供保障,同时公司作为内资商业运营引领者,具备一定的估值优势。我们认为公司的合理目标价在 35-37 元区间,对应 2023 年 PE 估值约为 8.5-9X。
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华润置地-港股公司研究报告-竞争格局改善优先受益方优质资产运营引领者-231009(43页).pdf
2023下半年华润置地预期供货节奏
华润置地盈利预测表(百万元)
华润置地营业收入及毛利率测算表(百万元)
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