【券商聚焦】华泰证券：缩表筑底迎地产新周期_老虎社区_美港股上老虎

【券商聚焦】华泰证券：缩表筑底迎地产新周期

金吾财讯09-11 08:59

金吾财讯 | 华泰证券表示，1H2026重点房企业绩延续磨底：营收、归母净利润降幅仍处两位数，但毛利率已经接近企稳。销售降幅较2025年全年收窄，拿地端延续大幅收缩，行业集中度进一步向央国企集中。更值得关注的是， "828新政"正式落地，叠加头部企业经营性不动产REIT出表、轻资产业务持续发展，行业正加速从规模驱动转向质量与运营驱动，关注行业结构性机会。

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