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中金:人民幣升值料提振內房盈利 推薦華潤置地等股
格隆匯 06-03 12:56

中金公司發表研究報吿指出,考慮到地產開發商尤其內房企業的外幣債務敞口,近期人民幣走強有望為內房板塊帶來盈利和投資者風險偏好的雙重提振,推薦華潤置地(1109.HK)和旭輝控股集團(0884.HK)等。

中金報吿指出,測算內房中外幣債務佔比相對較高的中國海外發展(0688.HK)和旭輝控股,假設公司未採取匯率風險對沖措施,則人民幣每升值1%,對兩家公司歸母淨利潤的正向影響分別為1.5%和2.7%。

報吿説,由於多種因素作用,如公司採取對沖外匯風險等,當期盈利所面臨的實際影響或小於理論分析,若下半年尤其臨近年末銷售和土地市場有更為明顯的降温,將有效緩釋投資者對政策面的擔憂情緒。

報吿又指,業績亮眼的公司中報有望迎來結構性機會,推薦龍湖集團(0960.HK)、中國海外發展、融創中國(1918.HK)、寶龍地產(1238.HK)和越秀地產(0123.HK)。

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