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伍洛桓先生(Gary Ng)
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畢業於美國加州大學聖地牙哥分校。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。
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沽出中電控股(0002)認沽期權

Monday, July 28, 2025 Views548

中電控股有限公司(港交所:0002)是亞太地區能源領域的基石企業。公司成立於1901年,已從一家本地公用事業公司發展成為該地區最大的投資者擁有的電力業務之一,業務遍及香港、中國內地、澳洲、印度、泰國和台灣。截至2025年7月,公司市值達1,650億港元,彰顯其顯著的區域影響力。

中電的核心業務包括發電、輸電、配電和零售電力,並利用多元化的能源組合,包括煤炭、天然氣、核能以及風能、水力和太陽能等可再生能源。在香港,公司為80%的人口供電,確保提供高度可靠的服務,支撐著這座城市的經濟活力。在香港以外,中電在澳洲的投資包括零售業務,而在中國內地、印度和東南亞的資產則側重於發電。這種多元化的策略有助於在波動的市場中降低風險並支持穩定的收入來源。

在財務方面,中電表現穩健,這得益於強勁的銷售額(909.6億港元)、利潤(117.4億港元)。公司的股息政策是吸引投資者的關鍵因素,提供每季每股0.63港元的股息,截至2025年6月,股息率約為4.78%。派息比率為67.78%,表明股息有良好的盈利支撐。

儘管面臨零售市場競爭和極端天氣影響等挑戰,中電對可再生能源和基礎設施升級的戰略重點,使其具備可持續增長的優勢。隨著亞洲能源需求不斷上升,中電控股已做好充分準備,在平衡盈利能力與環境責任的同時,推動一個更光明、更環保的未來。

想吼低買入中電控股的,可沽出下月(8月)認沽期權行使價$67.50,期權金收$0.90,年度化收益率15.9%。如放置總價值50%之按金,年度化收益率可提升至31.8%。

假若中電控股股價於到期日(8月28日)收市價高於行使價$67.50,此合約將會失去所有價值,而沽方就可收取全數期權金。若股價低於行使價$67.50,你將會用行使價$67.50買入電能實業股票。收取的期權金可以用作減低買入成本,令你可以更低價錢買入股票。

 

中電控股 0002.HK 25年8月$67.50認沽
方向 沽出認沽
合約股數 500
合約張數 10
期權金收取 $0.90*10*500=$4500
年化收益率 15.9%
 
若到期日(8月28日)收市價低於行使價 $67.50 相等於買入股票價錢  $67.50- $0.90 = $66.60

 

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