《大行》摩通:碧桂园服务(06098.HK)上半年盈利未达预期 但派息指引上调

阿斯达克财经
Aug 27, 2025

摩通大通发表报告表示,碧桂园服务(06098.HK) 2025年上半年核心净利润按年下降15%,较该行预估低6%,尽管收入按年增长10%,但毛利率收缩。业绩未达预期主要因行政费用增长超预期,按年增长23%。然而,令人意外的亮点是管理层承诺2025财年目标派息比率为60%,高于2024财年的33%,意味着6.5%至7%的股息收益率。评级“减持”,目标价5元。摩通指出,碧桂园服务物业管理毛利出乎意料...

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