惠譽:中資房企銷售等表現差距擴大 加劇信用狀況分化
評級機構惠譽認為,今年上半年內地民營房企在銷售額和流動性方面的表現日趨遜於國企同業,加劇中資房企信用狀況的分化態勢。
惠譽指,今年上半年,中國81家上市民營房企披露的合同銷售按年降幅的中值為59%,而同期45家上市國有房企合同銷售按年降幅中值為38%;兩者差距從去年下半年的5.8個百分點,擴大至21.4個百分點,相信是由於更多購房者開始擔憂民營房企交付項目及保證質量的能力。儘管民營房企大幅降價促銷,但預期趨勢難以在短期內扭轉。此外,民營房企自去年下半年以來祭出的激進降價活動,還可能自今年下半年起在項目開始交付時侵蝕其利潤率。
惠譽認為,國有房企與民營房企日趨拉大的差距將加劇房企信用狀況分化,此可能持續較長時間。而民營房企捉襟見肘的資金和流動性狀況阻礙其在經濟低迷時擴張,但是國有房企的擴張卻未受影響,這將轉化為國有房企未來更強勁的銷售額和財務指標。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.