智通财经APP获悉，物管股集体下跌，截至发稿，碧桂园服务(06098)跌5.9%，报6.54港元；雅生活服务(03319)跌5.73%，报2.96港元；万物云(02602)跌3.83%，报22.6港元；融创服务(01516)跌3.76%，报1.79港元。
消息面上，瑞银发布研报称，中国物业管理商2025年上半年财报预期将持续放缓，预计平均盈利同比增幅将放缓至13%，低于2024年上半年的17%及2024年全年的14%增长，对比市场预期为15%，主要受到住宅市场放缓所拖累，令在管面积增长减慢、物业费收缴率下降、开发商增值服务减少及社区增值服务毛利率受压。美银证券则表示，中国物管股年初至今股价累计上涨逾20%，预期估值修复期已结束。
中信证券发布研报称，物业服务行业存在一些内卷式竞争，表现为部分项目业主对物业费的降价诉求并不理性。但当前头部公司市占率较低，企业调整在管组合的空间很大，头部公司的盈利能力并不会因为内卷式竞争而下降。同时政策反对内卷式竞争，鼓励优质优价，有利于企业收缴率、费率和盈利能力的稳定，有利于重视服务口碑的公司。看好具备品牌竞争力的公司。
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