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暴跌後的環保行業投資機會

恒指自4月27日的最高28588點下跌至目前的26282點,下跌幅度已達8%,而中小盤股更是大幅度殺跌。經過此次暴跌,很多股票重拾投資價值。在環保行業中,我們推薦“綠色動力環保(1330.Hk)。

1. 北京國資委旗下主營垃圾發電的公司,北京的垃圾處理廠目前都處於滿負荷狀態,今年計畫新增垃圾發電項目6125噸,並且北京市開始關閉一些垃圾填埋場,其中很多的處理能力將由焚燒發電代替,公司的股東背景有助於項目的取得;

2. 公司專案建造速度較快,2014年有三個垃圾發電專案建造進度快於預期,預計本年度北京密雲項目也可以提前開工;

3. 公司專案擴張速度快,公司目前投入運營項目5250噸,在建項目3300噸,本年度還有約3000噸新項目開工建造;

4. 我們給予綠色動力環保目標價7.25港元,對應20倍2016年預期P/E。

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