汇丰环球研究发表报告指,中国建筑国际(03311.HK) 股价年初至今累跌约4%,对比同期恒指升幅达到25%,考虑到集团主动缩减内地业务规模,以及香港营业额增长放缓与利润率受压,预期前景仍较疲弱,将投资评级从“买入”下调至“持有”,目标价从12.6元轻微下降至12.5元。
该行预期中国建筑国际下半年净利润将温和增长,未及公司目标的双位数增幅。内地地方政府财政状况紧张,公司自去年第四季已主动减少投资驱动项目,导致今年上半年内地营业额跌约10%,汇丰研究目前预期内地营业额于2025至2027年将增长3%、11%及12%,较2021至2023年间介乎20%至40%的增幅明显放缓。
考虑到中国建筑国际专注发展香港市场,市占率达30%至40%,汇丰研究预测该公司今年下半年香港营业额仍将录得增长,但增幅将由上半年的37%减慢至12%。(gc/)(港股报价延迟最少十五分钟。沽空资料截至 2025-08-21 16:25。)
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.