摩根大通发表研究报告，指万科(02202.HK) 继早前获深铁28亿元人民币(下同)股东贷款后，再获42亿元股东贷款。摩通相信，贷款为万科提供“刚好足够”的流动性支持，有助集团减轻未来两至三个月的违约风险。然而，万科将于5月有另外46亿元的债券到期，并在今年底前有230亿元债券到期。
摩通指出，万科的资金缺口或需由更多的股东贷款和资产出售来填补，重申单靠深铁可能无法解决万科的流动资金压力，但深铁仍可能透过协助资产出售，以避免万科出现债务违约。该行认为万科的风险回报缺乏吸引力，维持“减持”评级，目标价3.3港元。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-21 16:25。)
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