600258 / -03 30pg.jrj.com.cn/acc/res/cn_res/stock/2018/3/30/8dd59... · 3 / 5 [table_pagetop]...
TRANSCRIPT
[Table_MainInfo] [Table_Title]
/
[Table_Summary]
2017 2017 84.17
/+29% 6.31 /+199% 5.95
/+310% 21.05 /+4.3%
8047.37 /+48.8% 10
0.8 10 2
17 84.17 /+29%
79.72 /+30% 70.52 9.2
4.44 /+19% 10.01 /+90% 9.59
1.49 /+53% 17 5.95 /+310%
5.15
2016 10 100% 66.14%
2016 4-12 2017
RevPAR
17
2.23 1.82
Q4 &
18 17Q4 196 /
/ 72/106/18 2017 512
92% / / 200/205/107
Q1 Q4 36/152/128/196 2017
202 / 65/137 22
7 2017
3712 3554
488 17Q4 11%
2016A 2017A 2018E 2019E 2020E
6,523 8,417 8,829 9,580 10,385
(+/-)% 389.40% 29.03% 4.90% 8.51% 8.40%
211 631 855 1,060 1,305
(+/-)% 110.66% 199.09% 35.51% 24.00% 23.09%
0.31 0.77 1.05 1.30 1.60
92.81 37.24 27.48 22.16 18.01
2.80 3.08 2.75 2.43 2.12
(%) 3.14% 8.60% 10.43% 11.46% 12.36%
(%) 0.00% 0.28% 0.00% 0.00% 0.00%
( ) 680 816 816 816 816
[Table_Invest]
[Table_Market] 2018/3/29
6 39.54
29.38
12 19.74 35.39
23,967
816
A 816
B /H 0/0
6
[Table_PicQuote]
-10%
3%
16%
29%
42%
55%
2017/3 2017/6 2017/9 2017/12
[Table_Trend] % 1M 3M 12M
-6% 9% 31%
-2% 12% 19%
[Table_Report]
600258
--20171101
600258
•
--20170830
300178
--20180320
--20171102
[Table_Author]
S0550517110003
(021)20361142 [email protected]
600258 /
2018-03-30
2 / 5
[Table_PageTop]
26% 2018 450
50% 2018 100
RevPAR Q4
17Q4 RevPAR
6.5% / 4.3%/1.75 pct 17Q3 6.1%
RevPAR 5.8% / 3.7%/1.67 pct 17Q3
1.3% 2017 RevPAR 4.9% /
3%/1.53 pct RevPAR 7.6% /
6.4%/0.94 pct)
1 2
& 2017 RevPAR
6.7% 2.2% 2.67 pct 17
489.46 32% 1.09 /+50%
8162
+
18-20 88.2 /95.8 /103.9
8.55 /10.60 /13.05 PE 27 /22 /18
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[Table_PageTop]
[Table_Forcast] 2017A 2018E 2019E 2020E 2017A 2018E 2019E 2020E
1,450 2,954 4,774 6,832 659 915 1,134 1,396
0 0 0 0 60 0 0 0
200 198 215 233 943 386 362 338
46 54 58 63 0 0 0 0
32 32 32 32 216 110 110 110
1,967 3,582 5,452 7,565 3 -100 -100 -100
284 284 284 284 232 -8 112 112
590 590 590 590 0 0 0 0
2,498 2,338 2,179 2,019 2,095 1,272 1,587 1,826
3,989 3,792 3,600 3,413 -537 342 342 342
4,768 4,768 4,768 4,768 -1,173 -110 -110 -110
14,880 14,283 13,709 13,159 1,274 1,506 1,807 2,028
16,847 17,865 19,161 20,724
840 840 840 840 2017A 2018E 2019E 2020E
134 131 142 154
223 234 254 276 0.77 1.05 1.30 1.60
691 691 691 691 9.35 10.47 11.86 13.57
3,853 3,956 4,119 4,286 2.57 1.56 1.95 2.24
3,093 3,093 3,093 3,093
1,207 1,207 1,207 1,207 29.03% 4.90% 8.51% 8.40%
5,367 5,367 5,367 5,367 199.09% 35.51% 24.00% 23.09%
9,220 9,323 9,485 9,652
7,339 8,194 9,254 10,559 94.64% 94.50% 94.50% 94.50%
288 348 422 513 7.50% 9.68% 11.07% 12.56%
16,847 17,865 19,161 20,724
8.18 8.18 8.18 8.18
2017A 2018E 2019E 2020E 40.42 40.42 40.42 40.42
8,417 8,829 9,580 10,385
451 486 527 571 54.73% 52.19% 49.50% 46.58%
58 61 66 72 0.51 0.91 1.32 1.77
60 0 0 0 0.50 0.89 1.31 1.75
5,719 5,566 6,275 6,675
948 1,368 1,054 1,038 67.95% 63.05% 65.50% 64.27%
223 88 65 38
11.26% 15.50% 11.00% 10.00%
0 0 0 0 2.64% 0.99% 0.68% 0.37%
-3 100 100 100
1,036 1,359 1,693 2,090
-35 30 30 30 0.28% 0.00% 0.00% 0.00%
1,001 1,389 1,723 2,120
342 475 589 725 P/E 37.24 27.48 22.16 18.01
659 915 1,134 1,134 P/B 3.08 2.75 2.43 2.12
631 855 1,060 1,305 P/S 2.79 2.66 2.45 2.26
28 60 74 91 8.60% 10.43% 11.46% 12.36%
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“ ”
R3 A B
AA ABS
“ ”
6 15%
6 5% 15%
6 -5% 5%
6 5% 15%
6 15%
6
6
6
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