{"F": {"ts_code": "HK.02539", "name": "乐摩科技", "mkt": "HK", "ccy": "港元", "sw1": "消闲及文娱设施", "sw2": "消闲及文娱设施", "sw3": "", "ind": "消闲及文娱设施", "fin_source": "futu", "market": "主板", "list_date": "20251203", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 9.31, "pe_ttm": 4.856, "pb": 0.88, "dv_ttm": 6.22, "total_mv": 51722.2636, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [33.7], "rev_series": [10.1], "np_series": [1.0], "roe_series": [25.5], "rev_ttm": 10.1, "np_ttm": null, "ocf_ttm": null, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 0.0, "gm_median": 33.7, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 10.3, "roe_median": 25.5, "commodity": false, "hard_ratio": 37.3, "fix_assets": 2.4, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 1.3, "debt_ratio": 30.0, "debt_mv": null, "payout": 30.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 18.8, "np_yoy": 14.2, "np_vol": null, "loss_years": 0, "far_share": 0.0, "earn_yield": 20.6, "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": -75.0, "ret_20": -21.0, "ret_60": -27.7, "ret_120": -44.4, "ret_250": -76.7, "mdd_250": null, "vol_250": null, "pos_52w": 11.0, "eps": 1.868}, "S": {"duration": 11, "pricing": 49, "hard": 60, "bondness": 54}, "label": "中性", "tags": ["股息率≥4%"], "text": {"像什么": ["PE 4.9 倍、股息率 6.2%、毛利率最新年报 33.7%、固定资产占比 37%、资产负债率 30%:四轴都不突出。"], "为什么(不)算钱的替代品": "硬资产占比 37%、毛利率 33.7% 两条都占,但所在行业(消闲及文娱设施)不在硬资产名单里(医药/科技的固定资产是产能不是储量),按主标签看。", "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 0.0%(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 33.7%。能。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 37%。涨。"], ["估值里多少来自 5 年后的故事?", "按 PE 4.9 倍 粗算,约 0%(1 − 5/PE)。中等。"]], "价格行为": "近一年 -77%,现价在 52 周高点的 11%;近 20 / 60 / 120 日 -21% / -28% / -44%。", "行业对照": ["同富途行业「消闲及文娱设施」8 家中位:PE 5.1 / 股息率 0.0% / 毛利率 26.6% / 固定资产占比 16% / 分红率 70%。", "乐摩科技:PE 比行业中位低 0.2倍;股息率 比行业中位高 6.2个百分点;毛利率 比行业中位高 7.1个百分点;固定资产占比 比行业中位高 21.3个百分点。"]}}