Market Brief

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Author

袁鉅文先生 (Aman Yuen)
經理

金融經濟系畢業, 從事股票衍生工具投資工作已有十年, 善於技術分析及期權買賣策略.歡迎各位來電交流心得
Phone:
36670666

金沙中國有限公司(1928)

Monday, November 26, 2018 Views1439

財務摘要

集團於二零一八年上半年的總收益淨額為42.7億美元(334.7億港元),較二零一七年上半年的36.4億美元(283.7億港元)增加17.3%。

經調整物業EBITDA為15.4億美元(120.8億港元),較二零一七年上半年的12.3億美元(95.8億港元)增加25.4%。

上半年的利潤為9.79億 美元(76.83億港元),較二零一七年上半年的 6.78億美元(52.92億港元)增加44.4%。

 

收益淨額

本公司的收益淨額包括下列各項:

大多數業務類別的收益淨額均有所增加,主要受到訪人次的增加及澳門博彩市場的重要增長所帶動。我們於澳門的到訪人次持續領先市場,著力推動高利潤的中場博彩業務,同時為貴賓及高端客戶提供豪華休閒設施及頂級服務。

 

經調整物業EBITDA(i)

下表概述有關本公司各分部的資料:

截至二零一八年六月三十日止六個月,經調整物業EBITDA增加25.4%至1,540,000,000美元,而截至二零一七年六月三十日止六個月則為1,230,000,000美元。該增加乃受大多數業務類別的收益增加所帶動。管理層團隊繼續致力於業務中博彩及非博彩兩方面的營運效率及成本控制措施。

 

利率及滙率風險

市場風險主要為與其長期借貸有關的利率風險,而該等借貸全部按浮動利率發行。

外幣交易主要以美元計值。資產及負債的幣值以美元、港元及澳門元為主,而以其他貨幣計值的資產及負債的之數額並不重大。本集團需承受因未來商業交易以及以澳門元(本集團旗下主要經營公司的功能貨幣)以外貨幣計值的已確認資產及負債而產生的滙率風險。

在管理與其目前及預測未來借貸有關的利率風險及外幣滙率風險。此政策讓集團可使用利率掉期、期貨、期權、上限、遠期合約及類似工具的任何組合。截至二零一八年六月三十日止六個月內,集團並無持有或發行任何金融工具作利率或外滙對沖用途。然而,本公司於二零一八年八月訂立名義本金額為5,500,000,000美元的利率掉期合約,以管理與票據有關的基準利率風險。根據利率掉期合約,公司按適用之倫敦銀行同業拆息以浮動利率支付利息,並按合約所載的固定利率收取利息,直至二零二零年八月為止。

 

建議:

沽出2018年12月股票期權認沽期權
正股在11月23日最低價: $32.2
期權合約:SAN30.00X8
行使價:30
類別: 認沽期權
期權金:0.6 ( 目標沽出價 )
金額: 25張是正股10000股
風險: 需要以$30買入正股 (如果被行使)
直至12月結算日: 21天
資料更新日期為2018年11月23日

 

本人袁鉅文為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之證券的所有相關財務權益。

 

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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