{"F": {"ts_code": "HK.00580", "name": "赛晶科技", "mkt": "HK", "ccy": "港元", "sw1": "工业零件及器材", "sw2": "工业零件及器材", "sw3": "", "ind": "工业零件及器材", "fin_source": "futu", "market": "主板", "list_date": "20101013", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 1.27, "pe_ttm": 105.833, "pb": 0.834, "dv_ttm": 1.57, "total_mv": 203432.664, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [25.2], "rev_series": [25.1], "np_series": [1.5], "roe_series": [6.9], "rev_ttm": 25.1, "np_ttm": 0.2, "ocf_ttm": -1.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -5.5, "gm_median": 25.2, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 5.9, "roe_median": 6.9, "commodity": false, "hard_ratio": 23.2, "fix_assets": 8.2, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 2.2, "debt_ratio": 33.1, "debt_mv": null, "payout": 166.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 46.4, "np_yoy": 64.1, "np_vol": null, "loss_years": 0, "far_share": 95.0, "earn_yield": 0.9, "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": -33.5, "ret_20": -12.1, "ret_60": -46.9, "ret_120": -36.8, "ret_250": -24.9, "mdd_250": null, "vol_250": null, "pos_52w": 40.7, "eps": 0.095}, "S": {"duration": 93, "pricing": 45, "hard": 37, "bondness": 57}, "label": "中性", "tags": [], "text": {"像什么": ["PE 105.8 倍、股息率 1.6%、毛利率最新年报 25.2%、固定资产占比 23%、资产负债率 33%: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 23%,毛利率最新年报 25.2%。", "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 -5.5%(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?", "毛利率最新年报 25.2%。取决于竞争。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 23%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 105.8 倍 粗算,约 95%(1 − 5/PE)。>70%,把 5 年后的假设砍一半,这个股票值多少钱?"]], "价格行为": "近一年 -25%,现价在 52 周高点的 41%;近 20 / 60 / 120 日 -12% / -47% / -37%。", "行业对照": ["同富途行业「工业零件及器材」73 家中位:PE 15.3 / 股息率 0.0% / 毛利率 24.2% / 固定资产占比 16% / 分红率 25%。", "赛晶科技:PE 比行业中位高 90.5倍;股息率 比行业中位高 1.6个百分点;毛利率 比行业中位高 1.0个百分点;固定资产占比 比行业中位高 6.8个百分点。"]}}