野村:微降中国海外发展(00688)目标价至12.2港元 评级“中性”

智通财经
03 Apr

智通财经APP获悉,野村发布研报称,中国海外发展(00688)去年收入同比跌9%至1850亿元人民币,低于预期,毛利率收窄至17.7%,核心净利润同比跌4%至150亿元人民币,低于该行预期8%。不过公司资产负债表改善,净杠杆率降至29%。该行料,集团入账毛利率至少于今年内保持低位,料集团房地产销售盈利能力于今年后才稳定下来,这受惠于公司未入账销售额具更高利润率。该行表示,将集团在2025年至2026年盈利预测下调20%至22%,其目标价由12.3港元轻微下调至12.2港元,其评级为“中性”。

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