{"F": {"ts_code": "HK.00006", "name": "电能实业", "mkt": "HK", "ccy": "港元", "sw1": "常规电力", "sw2": "常规电力", "sw3": "", "ind": "常规电力", "fin_source": "futu", "market": "主板", "list_date": "19760816", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": true, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 60.3, "pe_ttm": 7.18, "pb": 1.246, "dv_ttm": 4.68, "total_mv": 12850564.07862, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [7.7], "np_series": [62.4], "roe_series": [7.0], "rev_ttm": 7.7, "np_ttm": 179.0, "ocf_ttm": 10.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 0.8, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 808.8, "roe_median": 7.0, "commodity": false, "hard_ratio": 0.0, "fix_assets": 0.2, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 66.8, "debt_ratio": 7.7, "debt_mv": null, "payout": 34.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -16.1, "np_yoy": 1.9, "np_vol": null, "loss_years": 0, "far_share": 30.0, "earn_yield": 13.9, "consensus_n": 0, "fwd_pe": null, "fwd_pe2": null, "fwd_g1": null, "fwd_g2": null, "peg": null, "consensus_disp": null, "mainbz": [], "ret_prev_year": null, "ret_prev2_year": null, "ret_pivot": null, "prev_year": "", "prev2_year": "", "ret_ytd": 13.5, "ret_20": 4.5, "ret_60": 7.8, "ret_120": -1.1, "ret_250": 26.5, "mdd_250": null, "vol_250": null, "pos_52w": 92.8, "eps": 2.926}, "S": {"duration": 16, "pricing": 32, "hard": 0, "bondness": 53}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 7.2 倍、股息率 4.7%、毛利率最新年报 —、固定资产占比 0%、资产负债率 8%:四轴都不突出。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 0%,毛利率最新年报 —。", "加息期怎么走": "按行业与估值常规看,没有明确的利率方向性。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 0.8%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。极低或为负。"], ["能否每年提价而不掉量?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。价格受管制,不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 0%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 7.2 倍 粗算,约 30%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 26%,现价在 52 周高点的 93%;近 20 / 60 / 120 日 4% / 8% / -1%。", "行业对照": ["同富途行业「常规电力」11 家中位:PE 7.2 / 股息率 5.1% / 毛利率 15.2% / 固定资产占比 63% / 分红率 52%。", "电能实业:PE 与行业中位持平;股息率 比行业中位低 0.4个百分点;毛利率 ;固定资产占比 比行业中位低 62.6个百分点。"]}}