美银证券发表研究报告，指粤海投资(00270.HK) 在2024财年股息分派上，其业绩面临潜在减值风险。截至今年6月，该行预计集团对房地产库存的风险敞口约为200亿港元。根据该行估算，每5%的减值将对纯利产生约60亿港元的负面影响，并导致股息减少约6港仙。另外，以当前65%的派息比率计算，集团可能需要筹集资金，以用于延长2030年到期的东江水务项目特许经营权。因此，该行重申对集团的“中性”评级，目标价由4.8元上调至4.9元。
美银证券预期，粤投盈利较佳的广州房地产发展项目将于明年起确认利润，而且房地产库存的敞口将会减少，料明年的股息有上升潜力。该行将集团2024至26年每股盈测下调1%至3%，主要是考虑到物业销售利润预测被下调，以及其公允价值亏损。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2024-10-30 16:25。)
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