智通财经APP获悉，东方证券发布研报称，根据世茂服务(00873)近期经营情况，调整对各项业务收入增速和毛利率的预测，以及销管费用率的预测。维持“增持”评级，调整目标价至0.73港元。
报告指，公司市场拓展持续发力，继续扩大高能级城市群的市场覆盖、业态不断拓展服务场景，基础物管有望继续稳定增长。2025年上半年公司市场拓展量质齐升，第三方竞标外拓新增年化合同金额约9.6亿，同比增长54.6%；新增合约面积40.1百万平方米，同比增长126.6%，双双创下历史新高。新增住宅平均物业费达到2.9元/平方米/月，反映出新签项目质量和盈利水平的双提升。公司市拓战略坚持聚焦核心城市群和高能级市场，74%的新增项目位于京津冀、长三角和大湾区，一二线城市占比达73%。
此外值得强调的是，合同金额超500万元/年的高质客户占比提升至64.3%。下半年，公司继续发力市拓，7月-10月合计新增项目近200个，其中包含产业园、商写、住宅、学校、医院、政府后勤服务等，不断拓展服务场景与客户价值边界，为未来基础物管稳定增长提供基础。
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