{"F": {"ts_code": "HK.06831", "name": "绿茶集团", "mkt": "HK", "ccy": "港元", "sw1": "餐饮", "sw2": "餐饮", "sw3": "", "ind": "餐饮", "fin_source": "futu", "market": "主板", "list_date": "20250516", "is_fin": false, "roles": {"fin": false, "commodity": false, "precious": false, "regulated": false, "hard": false, "growth": false}, "province": null, "main_business": "", "introduction": "", "close": 5.165, "pe_ttm": 5.436, "pb": 1.867, "dv_ttm": 10.07, "total_mv": 340091.9042, "trade_date": "20260904", "years": ["最近年报"], "multi_year": false, "period": "最近年报", "gm_series": [null], "rev_series": [53.0], "np_series": [5.4], "roe_series": [38.9], "rev_ttm": 53.0, "np_ttm": 6.2, "ocf_ttm": 4.8, "fcf_ttm": null, "fcf_yield": null, "ocf_yield": 14.2, "gm_median": null, "gm_std": null, "gm_stab": null, "gm_chg_2022": null, "npm_median": 10.2, "roe_median": 38.9, "commodity": false, "hard_ratio": 25.1, "fix_assets": 8.6, "goodwill_ratio": null, "pb_calc": null, "capex_dep": null, "interest_debt": null, "debt_ebitda": null, "ebitda": 12.4, "debt_ratio": 53.8, "debt_mv": null, "payout": 55.0, "div_years": 1, "rev_cagr3": null, "np_cagr3": null, "rev_yoy": 29.7, "np_yoy": 45.2, "np_vol": null, "loss_years": 0, "far_share": 8.0, "earn_yield": 18.4, "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": -15.3, "ret_20": -22.0, "ret_60": -21.4, "ret_120": -29.1, "ret_250": -29.2, "mdd_250": null, "vol_250": null, "pos_52w": 57.5, "eps": 0.818}, "S": {"duration": 13, "pricing": 32, "hard": 40, "bondness": 62}, "label": "现金流红利", "tags": ["股息率≥4%"], "text": {"像什么": ["分红率 55%、股息率 10.1%、最新一年营收增速 29.7%、资产负债率 54%:红利底仓,但不靠杠杆。"], "为什么(不)算钱的替代品": "两条都不占:固定资产占比 25%,毛利率最新年报 —。", "加息期怎么走": "船票:加息期底仓。放水信号出现后按 7:3 → 5:5 → 3:7 逐步让位给科技。", "四问": [["当前 FCF 能覆盖多少市值?", "经营现金流/市值 14.2%(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?", "毛利率未披露(公用事业 / 地产 / 综合企业常见)。无法从毛利率判断。"], ["资产重置成本随通胀涨吗?", "固定资产占总资产 25%。有一些。"], ["估值里多少来自 5 年后的故事?", "按 PE 5.4 倍 粗算,约 8%(1 − 5/PE)。<40%,估值靠当期。"]], "价格行为": "近一年 -29%,现价在 52 周高点的 58%;近 20 / 60 / 120 日 -22% / -21% / -29%。", "行业对照": ["同富途行业「餐饮」31 家中位:PE 15.4 / 股息率 0.0% / 毛利率 65.9% / 固定资产占比 17% / 分红率 33%。", "绿茶集团:PE 比行业中位低 10.0倍;股息率 比行业中位高 10.1个百分点;毛利率 ;固定资产占比 比行业中位高 7.8个百分点。"]}}