金吾财讯 | 星展研报指出，贝壳(02423)管理层指引2025年第二季度净收入260亿人民币，按年及按季增长11%，符合预期。但利润率展望低于预期。公司指其现房业务贡献利润率虽在今年首季触底，但仅会逐步恢复，预计第二季度整体非通用会计准则经营溢利率将略改善至6.5%，全年为6.8%。该行调整分部交易总额、佣金费率和成本假设，并将下调对公司今明两年盈利预测2%至6%。该行表示，基于公司在新房和现房业务稳固市场定位，使其仍是中国实体市场逐步稳定的一个主要受益者，该行下调公司目标价，由68.47港元下调至62.25港元。该行重申“买入”评级。
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.