金吾财讯 | 中信建投指出，3月我国建筑业PMI录得49.3%，较上月提升1.1个百分点，景气度出现回升，其中新订单、投入/销售价格指数提升较多，叠加1-2月基建投资增速大增，显示市场需求回升，从业人员指数下降至40%以下，表明目前开工率仍处于较低水平。近期多家基建、专业工程建筑企业披露年报，业绩表现分化，多数基建央企业绩出现不同程度降幅，部分企业受减值影响较多；洁净室、化工工程等专业工程类企业保持较强韧性，新签合同额与营收业绩增长较快，境外工程依然是建筑企业核心增量来源。分红与现金流方面，尽管营收业绩有所承压，但经营性现金流多数转好，分红比例提高。该机构提及的风险提示包括：施工进度受资金到位情况、自然条件等影响较大，有可能出现延误进而影响收入确认；海外工程建设进度还受当地政治、安全环境影响；房地产市场持续低迷可能对建筑企业造成多方面不利影响；新能源业务拓展可能不及预期。
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.