《大行報告》中銀國際降旭輝(00884.HK)評級至「持有」 削目標價至0.95元
中銀國際發表研究報告指,近日有報道指旭輝(00884.HK)內部文件顯示公司賬面現金達到逾300億元人民幣,但大部分或未能滿足企業的合理按需要使用,事件引發市場擔憂,隨後旭輝發公告澄清,指出董事長從未表示公司面對資金不足問題。
該行認為,澄清公告一定程度上有助緩解市場擔憂,但認為內部文件仍然顯示出包括旭輝在內的眾多開發商正承受巨大壓力,因此將旭輝2022至2023年合約銷售預測下調14%及18%,2022至2024年收入下調7.3%、12.6%及9%,每股核心盈利預測分別下調21.4%至28.8%,毛利率預測則降至18.5%至19.5%。
由於地方政府持續推動項目確保交付措施,預期預售限制不太可能很快出現放鬆,融資不確定性因素增加,中銀國燄因此將旭輝的目標價從3.5元下調至0.95元,並將評級由「買入」下調至「持有」。
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