研报掘金丨华创证券：保利发展融资优势突出，维持“推荐”评级

格隆汇资讯07-17

华创证券研报指出，土储包袱拖累保利发展(600048.SH)上半年利润实现，毛利率仍然承压。上半年销售金额同比下降27%，即使是核心城市地产市场也面临较大下行压力，倒逼公司拿地更趋于谨慎，上半年仅获取12宗地块，权益地价109亿元。公司融资优势突出，保持较高的销售资金回笼率。融资优势保障公司不断聚焦核心城市，改善土储质量，奠定未来利润率和ROE回升的基础，但短期内公司存量土储可能存在减值压力。基于...

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