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中谷物流股价与SCFI/PDCI走势
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所属报告:
中谷物流(603565)-A股公司研究报告:受益于外贸支线集运市场高股息具备中长期投资价值-250811(26页).pdf
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投资建议:1)目前外贸支线集运市场景气度仍然较高,中谷物流通过调整内外贸结构,外贸占比提升叠加租约长期化使得公司利润率维持高位;同时如果内贸需求季节性提升,运价短期大幅上行也将带来股价催化。2)公司船舶资产优质,后续仍可以通过资产处置贡献良好利润及现金流。3)目前公司现金流充沛,仍具备良好现金分红能力,预计未来几年分红比例维持高位。预计 25-27 年公司盈利为 19.4/19.6/19.2 亿元,如按分红率 90%,股息率约为 8%;如按分红率 80%,股息率为 7%+。首次覆盖,给予“增持”评级。
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中谷物流(603565)-A股公司研究报告:受益于外贸支线集运市场高股息具备中长期投资价值-250811(26页).pdf
中谷物流、安通控股营收结构
国内集运公司(以中小型公司为主)运力对比(运力单位:万TEU)
集装箱行业供给预测
集装箱行业需求预测
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