中信證券:看好物管行業龍頭企業 薦保利物業(6049.HK)等5股
中信證券發表報告表示,年初至今物管板塊新股和增發股票已近百億,預計下半年股票新供應仍會明顯超過上半年,該行預計,接下來行業龍頭企業均將登陸資本市場,提升市場整體氣氛,但投資或形成分流,品牌缺乏競爭力、在管面積增長缺乏確定性的中型物管企業,將面臨邊緣化風險。
該行又稱,預計行業重點公司中期業績增長37.8%,公共衞生事件對於物管行業影響有差別化,與住宅相比,城市服務受到衝擊可能較大,預計下半年房屋交付增加,也會推動增值服務進一步增長。但該行也提到,最近兩年房屋交付支持業績增長,但週期業務難以持續,部分企業將不斷增加城市服務和公共基礎建設項目,整個行業會越來越多參與第三方拓展和併購。
中信證券看好行業龍頭企業,相信物管增值服務收入佔比及龍頭市佔率,都將有顯著的成長空間,推薦保利物業(6049.HK)、綠城服務(2869.HK)、中海物業(2669.HK)、碧桂園服務(6098.HK)、永升生活服務(1995.HK),均予“買入”評級。
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