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大行评级|摩根大通:内房股中关注盈利能力具防守以及潜在股息增长的企业

Bank Ratings | J.P. Morgan Chase: Companies concerned about defensive profitability and potential dividend growth in domestic housing stocks

Gelonghui Finance ·  May 20 01:49

According to a research report published by J.P. Morgan Chase, the Chinese authorities recently introduced another package of property market support measures. Although they believe that the effects of the policy may not be enough to trigger large-scale economic recovery in the short term, I believe this has shown the authorities' determination to support the real estate market more firmly and help reduce the downward pressure on the economy. According to the report, the People's Bank of China announced the establishment of a 300 billion yuan affordable housing reloan to support local state-owned enterprises to buy commercial housing that has already been built and not sold at a reasonable price for use as allotment or rental affordable housing. It is expected to bring in 500 billion yuan bank loans. The policy is surprising, and it came sooner than expected. Currently, Motong's basic expectation is that real estate sales in mainland China will stabilize as soon as the fourth quarter of this year to the first half of next year.

The domestic housing sector has recently experienced a rebound. It is expected that it may still show an upward trend in the short term, but since some private developers already have high valuations, the industry may take a breather. Motong focuses on companies with defensive profitability and potential dividend growth. Poly Real Estate, China Resources Vientiane Life, Greentown Services, and China Resources Land have all been rated “Increased”.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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