金吾财讯 | 新世界发展(00017)逆市上扬，截至发稿，涨3.15%，报8.52港元，成交额3580万港元。交银国际报告指出，公司2025财年业绩整体符合预期，营业收入为276.8亿港元，同比下降23%；扣除拨备及其他非现金项目影响后，持续经营业务的核心经营利润为60.2亿港元，同比下降13%，略低于该行预期。在销售表现方面，新世界2025财年在香港实现应占合约销售约110亿港元，内地合约销售为140亿元人民币。公司设定2026财年全年销售目标为270亿港元，较去年同期增长4%。财务结构上，集团净负债由上一财年减少约45亿港元至约1201亿港元，短期债务降至约66亿港元，并已于2025年6月完成882亿港元贷款再融资，进一步增强财务稳健性。交银国际认为，当前约0.13倍的市净率已充分反映市场对其负债水平的担忧。随着未来利率环境可能趋缓，以及房地产行业逐步复苏，公司估值有望获得重估。基于资产净值折让80%的估值方法，该行将目标价调高至9.7港元，并维持“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.