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巴克萊銀行給予弘陽地產(1996.HK)2022年4月到期債券“買入”評級
格隆匯 07-05 14:16

(香港,2021年7月5日) –中國領先的綜合性房地產開發商弘陽地產集團有限公司(“弘陽地產”或“集團”;股份代號:1996),其於2022年4月到期的債券獲巴克萊銀行授予“買入”評級。因巴克萊認為該集團的債券於6月在沒有任何負面消息下調整,所有認為其享有更高價值。

報吿引述弘陽地產管理層稱公司營運維持正常。2022年4月到期債券憑藉其7.5%的息率及距到期日僅九個月時間,巴克萊相信該債券在最近的沽售之後提供了有吸引力的價值。

弘陽地產在“三條紅線”政策下屬於綠色類別,所有比率都符合要求,但集團今年並不計劃將總債增加15%——即“三條紅線”政策下的上限。集團總債為人民幣320億元,短期債務佔比由2019年底的42%降至2020年底的35%。信託融資佔總債的比率由2019 年底的16%降至2020年底的13%。

根據克而瑞證券,截至2021年6月30日,集團已完成人民幣1,000億元全年銷售目標的49%,與48%的同業平均水平基本持平。由於競爭激烈導致的高溢價,所以弘陽地產沒有透過集中拍賣方式獲得太多土地。管理層表示,控制財務槓桿、加強其合資和合作夥伴關係以及提高經營槓桿仍是集團首要目標。

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