汇丰研究发表研报指，一众陷入财务紧张的内房发展商纷纷在第二轮债务重组过程中持续取得进展，该行维持债务重组是新兴正面催化剂的看法，预期融创(01918.HK) 在岸债券重组获批、碧桂园(02007.HK) 离岸债券重组获批及万科(02202.HK) 管理层改组等，都已成为稳定市场情绪的关键因素，反映各方通力合作以解决复杂的债务问题是至关重要。
汇丰研究又指，虽然对投资者而言境内外债券“剃头”(Haircut)会带来阵痛，但考虑到财困开发商现金流及资产负债表状况恶化，债务减记和置换已是较务实的解决方案，估算在不同情景下，财困开发商的总债务平均可减少13%至20%，通过明确债务偿还计划将重置市场预期，重新带动交易量回升，从而促进债务重组。
该行目前更偏好防守性股份，如华润置地(01109.HK) 、华润万象生活(01209.HK) 及贝壳(BEKE.US) ，均予“买入”评级，而随着风险缓解，相信万科(02202.HK) 及龙湖(00960.HK) 会获投资者关注，分别给予“持有”及“买入”评级。汇丰研究并将碧桂园目标价从0.8元下调至0.4元，评级为“持有”。(gc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-10 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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