港股异动 | 物管股随内房股走高 近期一线城市均落地优化限购政策 行业上半年业绩表现好转

智通财经
Sep 09, 2025

智通财经APP获悉,物管股随内房股走高,截至发稿,恒大物业(06666)涨4.55%,报0.92港元;华润万象生活(01209)涨3.53%,报41.22港元;绿城服务(02869)涨3.37%,报4.91港元;碧桂园服务(06098)涨2.74%,报6.76港元。

消息面上,根据克而瑞的数据显示,截至2025年8月末,新增土储货值百强门槛值为31.9亿元,同比下降6%,降幅持续收窄;新增总价百强门槛值为15.4亿元,同比提升12%;新增建面百强门槛值为30.4万平方米,同比回升8%。国金证券指出,近期北上深等一线城市均落地优化限购政策,预计进入四季度地产成交量有望迎来反弹,助推基本面进一步止跌回稳。考虑到美联储降息预期提升刺激流动性,当前地产板块估值偏低。

华泰证券表示,25H1物管行业经营表现“喜忧参半”。一方面,营收同比增速较24年持平,初步探明“L形”底部;归母净利润恢复正增长,主要因为关联房企应收账款和商誉减值减少;中期派息率延续提升。但另一方面,行业基本面仍面临挑战:物业费降价和收缴率压力等因素仍在发酵,多元服务仍然承压,减值关注点逐步切换至第三方应收账款。往前看,该机构依然看好高股息、地产拖累减弱、消费回暖三大逻辑的持续演绎,看好头部物管公司在兑现具备韧性的业绩增长的同时,继续提供具备吸引力的股东回报。

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