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大和:龍湖集團(0960.HK)銷售及盈利能力持續增長 重申買入評級
格隆匯 07-14 12:36

大和發表研究報吿指,龍湖集團(0960.HK)銷售及盈利能力持續增長,加上財務狀況穩定及經常性收入增長,故未有內地收緊信貸政策影響,在內房股中具有防守性,該行重申其買入評級,維持目標價55.9港元。

該行指,龍湖今年首6個月累計銷售金額達1426.3億元人民幣,按年升28%,完成全年目標的46%。龍湖指,上半年斥資640億元人民幣新購53塊地,總建築面積1100萬平方米。其中,公開拍賣地塊33塊,併購地塊12塊,其餘8塊為TOD項目。集團集中招標地塊毛利率平均在20至25%,整體毛利率可長期保持在25%以上。

大和預期,集團截至今年6月底的健康狀況將會持續,保持在50至60%之間,並預計將在“三條紅線”下維持全部“綠檔”。

另外,集團於6月獲主要股東增持200萬股,而該股東曾於去年12月售出部分股份。該行認為,其增持集團股份的舉動或是要重拾投資者的信心。

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