《大行報告》瑞銀:碧桂園(02007.HK)料中期純利大跌93%至99% 盈警顯示內房全行業負面
瑞銀發表報告指,碧桂園(02007.HK)發盈警,預期今年上半年核心盈利按年下跌67%至70%,介乎45億至50億元人民幣,至於股東應佔盈利則料按年下跌93%至99%,介乎2億元至10億元人民幣。盈利下跌主要由於工程進度減慢致收入下降、毛利率下降、物業計提減值及匯兌損失所致。報告形容,碧桂園盈警預示內房全行業負面。
該行相信,碧桂園出現存貨減值對大部分內房發展商是負面解讀,因集團去年是合約銷售規模最大的房企,而中海外宏洋(00081.HK)亦在今年上半年業績內作出減值。
瑞銀維持對碧桂園「中性」評級及目標價2.7元,並保持看淡內房行業,預期行業上半年業績將會疲弱。
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