* 中国地产开发商--万科H股2202.HK周二盘中一度跌2%，报3.51港元，其A股000002.SZ则一度升1.9%。
* 投资研究机构晨星在报告中表示，将万科A股的公允价值预估从5.4元人民币下调至4.5元，H股则从6港元下调至5港元。由于房地产开发毛利率大幅下滑、资产减值拨备增加以及金融投资亏损，万科预告的去年净亏损额大于预期。
晨星并指，由于物业销售依然面临巨大压力，预计万科在2028年前持续处于亏损状态。不过，深铁集团的再次支持提供了关键的“生命线”，帮助万科规避了迫在眉睫的违约风险，预计外部信贷将持续注入，以确保万科能偿还2026年上半年到期的77亿元人民币债券中的至少40%。此外，“白名单”项目开发贷款获得五年展期，也将缓解其流动性压力。
* 万科H股今年迄今涨8.5%，同期恒生指数.HSI上扬4.6%。
* 恒生中国内地地产指数.HSMPI盘中一度升2.5%。（完）
更多股市简讯请点选CN-CMN-HOT
(发稿 徐凯文；审校 林高丽)
((kaiwen.xu@thomsonreuters.com))
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.