摩通料内地将推更多放松政策 内房股毛利率可维持20至25%水平
摩通发表研究报告,指60-70%的内房发展商售楼处已重开,并有一半的建筑工程亦已重启,目前仍面对劳工短缺的问题,但相信会逐步解决。预期销售会于4月恢复正增长,加上有更多宽松政策,有助发展商解决再融资风险,不过地价回落幅度可能不如预期,特别是地方政府不会过度供应的情况下,以现价来说,发展商可维持20-25%毛利率。
该行预期行业会继续窄幅上落,特别是未来2-3周,在基本面不确定性的情况下,直至有更多宽松政策的消息出台才可抵消。
该行看好去年能够发出盈喜的发展商,或今年指引比行业更强的发展商,大型发展商看好万科(02202.HK)、融创(01918.HK),碧桂园则可受惠其城改计划。中型发展商则看好世茂(00817.HK)、旭辉(00884.HK);小型发展商看好中骏置业(01966.HK)、美的置业(03990.HK)、时代中国(01233.HK)。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.