里昂报告指，周大福创建(00659.HK) 公布良好的中期业绩，该行推算公司经常性利溢按年升11%，受惠亚洲货柜物流中心及周大福人寿营运健康。公司宣布派发每股0.3元特别息为正面惊喜。该行仍见到派息上望空间，在股本与净债务比率由39%升至45%的假设下，公司仍可派发额外每股0.4元特别股息。
该行指，公司目标股本与净债务(net debt to equity)比率为40%至45%，相对去年12月的39%，估计在公司加杠杆把有关比率升至45%下，仍有可能再派每股0.4元特别息，意味5.2厘额外股息。该行估算公司扣除周大福大寿后，2025至2027财年经常性自由现金流81亿元，足够支撑其渐进派息，派息总额估计为80亿元。
该行指，周大福创建股价为净资产折让42%，维持评级“跑赢大市”，目标价8.2元。(fc/a)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-26 16:25。)
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