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《大行报告》摩通:内房建筑工程逐步复工 大型内房看好融创及万科
阿思达克 02-26 14:06
摩通发表报告指,内房建筑活动陆续复工,更多地方政府容许建筑活动恢复及重开售楼处,相信至3月底将全线恢复正常运作。该行料2月内房销售额将按年减少50%至70%,惟过往2月售楼表现一向平平,占全年销售仅约5%,相信对全年销售表现影响不大。随着疫情持续,更多内房发展商倾向对今年销售数字定下保守目标,该行预计官方全年销售按年增长目标5%至10%,低於往常的10%至15%。若维持现时恢复状态,相信增长将高於有关水平,内房将於公布中期业绩时上调全年销售目标。 内房股价方面,该行料版块股价仍将窄幅上落,虽市场憧憬当局推出宽松政策,不过料将受近期疲弱基本因素所抵销。在不确定因素下,部份内房或将部份销售自去年顺延至今年,故去年全年盈利或将较预期疲弱。相信去年业绩表现较强的内房将跑出,大型内房股方面,该行偏好万科(02202.HK)及融创(01918.HK),中型内房则看好世房(00813.HK)、富力(02777.HK)及新城发展(01030.HK),小型内房则看好中骏集团(01966.HK)、美的置业(03990.HK)、时代中国(01233.HK)及奥园(03883.HK)。另外市场去风险亦将令龙湖(00960.HK)及润地(01109.HK)受惠。
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