{"F": {"ts_code": "HK.00623", "name": "金桥集团控股", "mkt": "HK", "ccy": "港元", "sw1": "广告及宣传", "sw2": "广告及宣传", "sw3": "", "ind": "广告及宣传", "fin_source": "futu", "market": "主板", "list_date": "20080708", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 2.245, "pe_ttm": 2.461, "pb": 0.45, "dv_ttm": 4.99, "total_mv": 102415.860565, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [35.7], "rev_series": [4.3], "np_series": [0.9], "roe_series": [4.2], "rev_ttm": 4.3, "np_ttm": 4.2, "ocf_ttm": -0.1, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": -1.2, "gm_median": 35.7, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 21.0, "roe_median": 4.2, "commodity": false, "hard_ratio": 7.9, "fix_assets": 1.8, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 1.1, "debt_ratio": 5.4, "debt_mv": null, "payout": 12.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": -34.8, "np_yoy": -21.0, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 40.6, "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": 26.1, "ret_20": 11.1, "ret_60": 15.7, "ret_120": 18.8, "ret_250": 2.0, "mdd_250": null, "vol_250": null, "pos_52w": 84.1, "eps": 0.194}, "S": {"duration": 6, "pricing": 50, "hard": 13, "bondness": 47}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 2.5 倍、股息率 5.0%、毛利率最新年报 35.7%、固定资产占比 8%、资产负债率 5%:四轴都不突出。"], "为什么(不)算钱的替代品": "只占定价权一条(毛利率 35.7%),硬资产占比 8%。分子能跟上通胀,但没有重置成本对冲;按'定价权·品牌'看,不按硬资产看。", "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 -1.2%(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 35.7%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 8%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 2.5 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 2%,现价在 52 周高点的 84%;近 20 / 60 / 120 日 11% / 16% / 19%。", "行业对照": ["同富途行业「广告及宣传」35 家中位:PE 17.5 / 股息率 0.0% / 毛利率 25.9% / 固定资产占比 0% / 分红率 0%。", "金桥集团控股:PE 比行业中位低 15.0倍;股息率 比行业中位高 5.0个百分点;毛利率 比行业中位高 9.8个百分点;固定资产占比 比行业中位高 7.4个百分点。"]}}