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《大行報告》匯豐研究:市況不明朗下較看好長實(01113.HK)、太地(01972.HK)、恆隆地產(00101.HK)及領展(00823.HK)
阿思達克 04-08 13:56
匯豐研究發表報告,指香港房地產發展商已公布其2019財年業績,其覆蓋的公司的盈利溫和增長1.2%,有別於2018財年時下跌7.7%。該行認為,在本地經濟疲弱及疫情爆發的情況下,業績表現將會再次轉勢。雖然大部分公司都沒有調整其資本開支計劃,但有些公司暫停股息增長,甚至削減派息。

該行提到,大部分企業在過去六個月的盈利能力弱,而這與零售及酒店業表現欠佳有關,並認為這趨勢將會持續,料很多公司的公允價值損失及減值風險將會在未來12個月內上升,已有數家公司開始在報告中反映其公允價值損失及為發展物業進行撥備。

由於經濟衰退及疫情影響,香港房地產板塊未來12個月的前景充滿挑戰,但在評估過其最新的財務業績後,認為一些公司能在市場不確定性下有更好的應對,包括長實集團(01113.HK)、太古地產(01972.HK)、恆隆地產(00101.HK)及領展房產基金(00823.HK),而這是基於估值的吸引力、財務狀況良好、穩定或不斷增長的派息等標準而決定。

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