Market Brief

The articles are produced in Chinese only.

Author

鄭錦華先生 (John Cheng)
助理經理

畢業於嶺南大學市場學系, 現任職輝立助理經理, 對投資股票、期權經驗豐富。 本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
Phone:
36533000

中銀航空租賃有限公司(2588)

Thursday, July 2, 2026 Views247

2588  中銀航空租賃有限公司          BOC AVIATION LIMITED

 

團業務

集團於2016年6月由中國銀行(03988)分拆上市,主要從事飛機租賃,以及飛機租賃管理及其他相關業務。此外,集團的總部位於新加坡,另於都柏林、倫敦、西雅圖及天津均設有辦事處。

 

業務回顧

按地區劃分,來自亞太(不包括中國內地、香港、澳門及台灣)之租賃租金收入減少6.1%至3.88億元,佔總租賃租金收入20.5%;來自中國內地、香港、澳門及台灣之租賃租金收入下跌10.4%至3.95億元,佔總租賃租金收入20.9%;來自美洲之租賃租金收入增長26.9%至5.57億元,佔總租賃租金收入29.5%;來自歐洲之租賃租金收入減少4.8%至3.15億元,佔總租賃租金收入16.7%;來自中東及非洲之租賃租金收入增長4%至2.35億元,佔總租賃租金收入12.4%

 

展望未來

受惠於航空業復甦,公司飛機利用率保持 100%。大行分析指出,其剔除特殊因素後的歸母淨利潤呈現雙位數增長趨勢,帶動估值中樞上移。此外,受惠於中銀集團的信用背書,其邊際融資成本低於同業,且自有飛機價值在市場上通常享有溢價。

 

建議買入價: 80.00

目標價: 90.00

止蝕價: 77.00

 

註:本人鄭錦華為證監會持牌人士。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証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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