中信金融资产(2799.HK)首次覆盖报告:拨云见日 双轮启航

国泰海通证券
Dec 19, 2025

本报告导读:当前公司形成不良资产管理+长期股权投资两翼齐飞的业务新格局。不良资产管理业务转型进行中,长期股权投资成为公司业绩新的压舱石。投资要点:预计2025-2027 年,公司归母净利润同比+7.4%/+11.0%/+8.6%至103.3/114.6/124.5 亿元, 对应EPS0.13/0.14/0.16 元,BVPS0.83/0.98/1.13 元。参考可比,我们给与中信金融资产2025E...

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