{"F": {"ts_code": "HK.01047", "name": "毅兴行", "mkt": "HK", "ccy": "港元", "sw1": "特殊化工用品", "sw2": "特殊化工用品", "sw3": "", "ind": "特殊化工用品", "fin_source": "futu", "market": "主板", "list_date": "19940425", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": true, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 0.34, "pe_ttm": 13.076, "pb": 0.245, "dv_ttm": 0.0, "total_mv": 12552.8, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [16.2], "rev_series": [13.5], "np_series": [0.0], "roe_series": [0.1], "rev_ttm": 13.5, "np_ttm": 0.1, "ocf_ttm": 0.2, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 17.4, "gm_median": 16.2, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 0.1, "roe_median": 0.1, "commodity": false, "hard_ratio": 9.0, "fix_assets": 0.9, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 0.3, "debt_ratio": 50.6, "debt_mv": null, "payout": 0.0, "div_years": 0, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 5.7, "np_yoy": 108.0, "np_vol": null, "loss_years": 0, "far_share": 62.0, "earn_yield": 7.6, "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": -17.1, "ret_20": -12.8, "ret_60": 3.0, "ret_120": 7.9, "ret_250": -5.6, "mdd_250": null, "vol_250": null, "pos_52w": 73.9, "eps": 0.001}, "S": {"duration": 28, "pricing": 40, "hard": 14, "bondness": 13}, "label": "成长兑现", "tags": [], "text": {"像什么": ["盈利在追估值:最新净利润同比 108%,PE TTM 13.1 倍,历史 PEG(PE ÷ 最新增速)0.12。", "经营现金流 0.2 亿(正),没有一致预期数据,风险在增速能否延续。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 9%,毛利率最新年报 16.2%。", "加息期怎么走": "估值不靠远期故事,加息期比纯久期抗跌;风险在订单与增速,盯业绩不盯利率。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 17.4%(futu 无资本开支,FCF 按经营现金流 × 0.7 近似)。覆盖高。"], ["能否每年提价而不掉量?", "毛利率最新年报 16.2%。不能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 9%。没有资产可言。"], ["估值里多少来自 5 年后的故事?", "按 PE 13.1 倍 粗算,约 62%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -6%,现价在 52 周高点的 74%;近 20 / 60 / 120 日 -13% / 3% / 8%。", "行业对照": ["同富途行业「特殊化工用品」31 家中位:PE 10.7 / 股息率 0.0% / 毛利率 16.2% / 固定资产占比 39% / 分红率 9%。", "毅兴行:PE 比行业中位高 2.4倍;股息率 与行业中位持平;毛利率 与行业中位持平;固定资产占比 比行业中位低 30.3个百分点。"]}}