You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》花旗料內地物管股去年核心純利跌19% 首選中海物業、華潤萬象及保利物業等
花旗發表研究報告指,所覆蓋的內地物管股去年核心盈利平均下跌19%,當中主要由於應收賬款或商譽減值、額外防疫開支及增值服務業務中斷等影響,其中民企在新增管理建築面積、成本分攤等資源方面受關聯方支持減少,亦為經營帶來阻礙,預期毛利率及淨利潤率將按年下跌3及4.5個百分點。 該行預測行業自由現金流水平將見底,跌至利潤的約30%至50%,惟第四季回款少於於預期,相信所覆蓋的內地物管股派息比率將進一步下降至25%。 花旗列中海物業(02669.HK)、華潤萬象(01209.HK)及保利物業(06049.HK)為首選,指出該等公司業績較穩健且符合市場預期;另外長遠看好萬物雲(02602.HK),指出公司雖然盈利遜於預期,但經營狀況良好。至於寶龍商業(09909.HK)、綠城服務(02869.HK)、碧桂園服務(06098.HK)、遠洋服務(06677.HK)及雅生活服務(03319.HK)等去年業績預期將較差。 該行認為行業變革趨勢不能避免,但當中可挑選增長股份作投資,對2023年發展保持樂觀,雖然盈警潮後股價將面臨壓力,不過長遠而言預期內地物業管理行業將可實現增長。
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.
uSMART
Wealth Growth Made Easy
Open Account