《大行報告》匯豐研究:若擔保發債規模不足以覆蓋即將到期債務 內房股升勢或失去動力
有報道指,內地監管機構計劃通過指定國企,擔保房企的人民幣債券發行,爲少數民營房企提供流動性支持,包括龍湖集團(00960.HK)及旭輝控股(00884.HK)等。匯豐研究發表報告,指若擔保發債規模不足以覆蓋即將到期債務,將使市場失望,內房股升勢或失去動力。
該行對內房板塊維持防守性立場,看好中國海外發展(00688.HK)和華潤置地(01109.HK),物管股中看好中海物業(02669.HK)和綠城服務(02869.HK),評級均爲「買入」。
匯豐研究,報道所指的方案可能構成內房生態系統結構性解決方案的一部分,因爲這有助於緩解民營房企的交易對手風險,進而支持再融資和吸引私人市場參與,報道所指的方案的僅限於選定的少數民營房企,使其更容易執行和可負擔,以及透過非銀行金融機構的作爲增信,可實現系統性節省資本。
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