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《大行報告》美銀美林新城發展(01030.HK)為競爭對手帶來風險及機遇
阿思達克 07-04 11:44

美銀美林發表研究報告指,新城發展(01030.HK)宣布主席兼執行董事王振華被刑事拘留,即時離任,並委任兒子王曉松為董事會主席,即時生效。今次事件為競爭對手,包括:碧桂園(02007.HK)、恆大(03333.HK)及旭輝(00884.HK)帶來風險及機遇。

該行表示,事件除了喚醒私營企業開發商存在關鍵人物風險外,亦可能引起投資者關注新城發展或出現競爭行為變化,所帶來的潛在影響。而債券市場出現任何波動,亦會損害其他開發商短期內開拓市場的能力。因此,是次新城發展的事件,可能會抑制投資者對內房行業的情緒。

報告指,短期而言,如果新城發展實施減價以增加流動性,上述三間發展商將更受不利影響。但留意政府已訂下穩定房地產市場的目標,所以地區政府不太可能會容忍到任何大幅度減價;長線而言,如果新城發展減慢擴張步伐,其他發展商則可以擴大市佔。不過由於很多三、四線城市的市佔率是比較分散,所以不會有單一得益者。同時,新城發展已在很多三線城市開設新商場,任何放慢擴張策略,亦會令商場競爭對手如萬達得益。

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