《大行報告》匯豐研究:潤地(01109.HK)等國企內房已遭過份拋售 對龍頭國企增長續有信心
匯豐研究發表報告指,內房板塊上日(22日)再次經歷顯着沽售,令本月初至今累跌約22%。上日沽壓主要受累於大市表現,但較具韌性的國營房企亦有6%至11%跌幅,除了受大市影響,亦與銷售疲弱有關。投資者關注國營房企去年業績表現,特別是利潤率收窄壓力,以及庫存減值的情況。
報告稱,對龍頭國企增長續有信心;國企內房已遭過份拋售,特別是華潤置地(01109.HK),認爲大部分國營房企今明兩年盈利均有增長,主要因爲有持續性的土地儲備,及具建設性的銷售表現。當市場的負面氣氛消退,國營房企的股價將會恢復。中海外(00688.HK)及潤地去年的土地投資有雙位數增長,具有穩固的現金流,並有空間保持銷售勢頭。行業當中偏好潤地、中海外及貝殼(BEKE.US)。
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