《大行報告》瑞信下調時代中國(01233.HK)目標價至9.3元 評級「中性」
瑞信發表報告,指時代中國(01233.HK)已完成全年銷售目標的41%,上半年的總銷售額為450億元人民幣。管理層表示未來將更加關注增長的質量。鑒於其運營環境更具挑戰性,認為需要更強的執行力來提高增長質量。
瑞信指,欣賞公司在城市更新業務方面的優勢,然而,其比同行更緊張的土地儲備將使其更容易受到政策環境收緊的影響,將指定的資產淨值折讓率擴大到60%,因為政策風險上升和更緊的流動性控制,目標價由11.6元下調至9.3元,維持「中性」評級。
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