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香港中旅(00308.HK)曾飆逾三成 花旗:擬分拆非旅遊景點業務正面 開啟30日催化觀察
香港中旅(00308.HK)擬分拆港澳業務以介紹方式在主板獨立上市,今早(21日)高開14.88%,曾升約32%高見1.6元。現報1.44元,升19.01%,成交1.26億股,涉資1.9億元。香港中旅宣佈,擬將旗下港澳業務(包括酒店、跨境客運及旅行證件服務)分拆,以介紹方式在香港聯交所主板獨立上市。香港中旅通過內部重組,將持有港澳業務的附屬公司股權全部分派予...
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香港中旅(00308.HK)曾飆逾三成 花旗:擬分拆非旅遊景點業務正面 開啟30日催化觀察
Recommend
19
Positive
18
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6
 
 

香港中旅(00308.HK)  +0.060 (+4.959%)    Short selling $11.65M; Ratio 4.708%   擬分拆港澳業務以介紹方式在主板獨立上市,今早(21日)高開14.88%,曾升約32%高見1.6元。現報1.44元,升19.01%,成交1.26億股,涉資1.9億元。

香港中旅宣佈,擬將旗下港澳業務(包括酒店、跨境客運及旅行證件服務)分拆,以介紹方式在香港聯交所主板獨立上市。香港中旅通過內部重組,將持有港澳業務的附屬公司股權全部分派予合資格股東。分拆完成後,中旅港澳將以介紹方式獨立上市,不涉及發行新股或募集資金,兩家公司各自擁有獨立的管理層及董事會。本次分拆旨在解決公司長期存在的資產屬性混同問題。

花旗發表研究報告指,香港中旅計劃通過實物分派方式,分拆旗下非旅遊景點業務,包括客運交通、酒店及旅行證件及相關服務,並以全新實體在香港聯交所主板尋求獨立上市。分拆不涉及發行新股,不會攤薄現有股東權益。

花旗認為,雖然分拆業務的盈利規模較大,佔公司2025年持續經營業務淨利潤約50%,可能導致分拆後兩間實體的股票流動性下降,但整體對分拆行動持正面看法。該行相信,此舉反映管理層致力將公司資源及管理能力集中於核心中國旅遊業務,並可能消除控股公司折讓。

管理層同時公布五年發展規劃,目標是到2030年將景點業務的銷售及利潤較2025年翻倍,主要受惠於雙位數銷售年複合增長、知識產權整合及科技進步。花旗展開對香港中旅為期30日的正面催化觀察,認為過去12個月管理層一系列提升股東價值的行動,包括分拆非核心業務、剝離虧損的旅遊地產業務,以及收購滑雪場及滑雪管理公司,將逐步釋放價值。該行維持予「買入」評級,目標價1.49港元。(ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-20 16:25.)

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