金吾财讯 | 万科企业(02202)早盘股价受压走低，截至发稿，报6.05港元，跌4.57%，成交额3.64亿港元。评级公司标普信评研究报告指出，万科董事会及管理层的变动表明深铁集团对万科管控力度的增强，反映了深铁集团力图化解万科债务风险。但鉴于万科较大的债务到期规模，其销售状况和深铁集团支持的具体细节将是化解其债务风险的关键所在。报告指出，目前维持万科的非公开信用分析(PrivateCreditAnalysis)结果为bb+，主要基于深铁集团后续支持路径仍未明，且万科流动性压力尚未缓解。该行指出，虽然与深铁集团的关系更加紧密或有助于提升购房者对其交付能力的信心，但在公司优质项目加速去化、剩余项目的去化难度不断增加的情况下，2025年万科的销售压力仍较大。在销售面临压力的背景下，非核心资产的处置和新增融资均对今年大规模的债券到期偿付产生重要影响。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.