作者|吴悦近日,建发股份发布2025年业绩预报,预计亏损52亿-100亿。巨亏背后,我们深度解析这桩市场高度关注的并购案例:建发股份当年耗资63亿收购红星美凯龙,为何非但没能提振短期业绩,反而让公司迎来上市以来首次亏损?核心原因有三点。第一,行业周期下行压力远超整合效率。家居卖场高度依赖房地产产业链,需求持续疲软导致出租率、租金水平双降,即便控股股东变更,也无法在短期内逆转行业基本面。第二,大额...
Source Link作者|吴悦近日,建发股份发布2025年业绩预报,预计亏损52亿-100亿。巨亏背后,我们深度解析这桩市场高度关注的并购案例:建发股份当年耗资63亿收购红星美凯龙,为何非但没能提振短期业绩,反而让公司迎来上市以来首次亏损?核心原因有三点。第一,行业周期下行压力远超整合效率。家居卖场高度依赖房地产产业链,需求持续疲软导致出租率、租金水平双降,即便控股股东变更,也无法在短期内逆转行业基本面。第二,大额...
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