<p>在报告中，美银证券表示，中国房地产市场仍处于复苏的早期阶段。4 月份，中国住宅合同销售同比增长 18%，而一线城市也显示出更多的稳定迹象。因此，该券商将优质开发商的目标价平均上调了 13%。</p>
<p>尽管其之前并不一致的看涨观点逐渐获得了更广泛的市场认可，但整体投资者的持仓仍然相对较轻，许多人仍在质疑复苏的可持续性。</p>
<p>该券商的首选股票包括华润置地 (01109.HK) +0.760 (+2.067%) 空头头寸 $308.93M; 比率 40.505%，中国海外 (00688.HK) +0.430 (+2.701%) 空头头寸 $197.65M; 比率 23.850% 和建发国际集团 (01908.HK) +0.490 (+2.901%) 空头头寸 $31.08M; 比率 13.171%。它对物业管理行业也持积极态度，偏好华润万象 (01209.HK) +0.100 (+0.199%) 空头头寸 $16.74M; 比率 37.209% 和绿城服务 (02869.HK) +0.030 (+0.624%) 空头头寸 $262.26K; 比率 3.725%。</p>
<p>美银证券将华润置地的目标价从 HKD43 上调至 HKD49，将中国海外 (00688.HK) +0.430 (+2.701%) 空头头寸 $197.65M; 比率 23.850% 的目标价从 HKD14.5 上调至 HKD17，将建发国际集团的目标价从 HKD17.2 上调至 HKD20，所有股票均被评级为买入。它还将越秀地产 (00123.HK) +0.100 (+2.203%) 空头头寸 $8.48M; 比率 17.300% 的目标价从 HKD4.6 上调至 HKD5，维持买入评级。</p>
<p>（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 11 日 12:25。）</p>

华润置地

中国置业投资

越秀地产

房地产ETF

华夏中证全指房地产ETF

华宝中证800地产ETF

南方中证全指房地产ETF

广发中证全指金融地产ETF

<p>美银证券报告称，中国房地产市场正在初步复苏，4 月份住宅销售同比增长 18%。他们将优质开发商的目标价格平均上调了 13%，首选包括华润置地、中国海外和建发国际集团。这些公司及越秀地产的目标价格均有所上调，评级均为买入。尽管乐观的前景获得认可，但投资者对复苏的可持续性仍持谨慎态度</p>

<p>In its report, BofA Securities said that the Chinese property market remains in the early stage of recovery. In April, Chinese residential contracted sales grew 18% YoY, while tier-one cities also showed more signs of stabilization. As a result, the broker raised TP for quality developers by an average of 13%.</p>
<div class="lb-trans"><p>在报告中，美银证券表示，中国房地产市场仍处于复苏的早期阶段。4 月份，中国住宅合同销售同比增长 18%，而一线城市也显示出更多的稳定迹象。因此，该券商将优质开发商的目标价平均上调了 13%。</p>
</div><p>Although its previously non-consensus bullish view has gradually gained broader market recognition, overall investor positioning remains relatively light, with many still questioning the sustainability of the recovery.</p>
<div class="lb-trans"><p>尽管其之前并不一致的看涨观点逐渐获得了更广泛的市场认可，但整体投资者的持仓仍然相对较轻，许多人仍在质疑复苏的可持续性。</p>
</div><p>The broker's top picks are CHINA RES LAND (01109.HK) +0.760 (+2.067%)  Short selling $308.93M; Ratio 40.505%  , CHINA OVERSEAS (00688.HK) +0.430 (+2.701%)  Short selling $197.65M; Ratio 23.850%  and C&amp;D INTL GROUP (01908.HK) +0.490 (+2.901%)  Short selling $31.08M; Ratio 13.171%  . It was also positive on the property management sector, favoring CHINA RES MIXC (01209.HK) +0.100 (+0.199%)  Short selling $16.74M; Ratio 37.209%  and GREENTOWN SER (02869.HK) +0.030 (+0.624%)  Short selling $262.26K; Ratio 3.725%  .</p>
<div class="lb-trans"><p>该券商的首选股票包括华润置地 (01109.HK) +0.760 (+2.067%) 空头头寸 $308.93M; 比率 40.505%，中国海外 (00688.HK) +0.430 (+2.701%) 空头头寸 $197.65M; 比率 23.850% 和建发国际集团 (01908.HK) +0.490 (+2.901%) 空头头寸 $31.08M; 比率 13.171%。它对物业管理行业也持积极态度，偏好华润万象 (01209.HK) +0.100 (+0.199%) 空头头寸 $16.74M; 比率 37.209% 和绿城服务 (02869.HK) +0.030 (+0.624%) 空头头寸 $262.26K; 比率 3.725%。</p>
</div><p>BofA Securities raised the TP for CHINA RES LAND to HKD49 from HKD43, for CHINA OVERSEAS (00688.HK) +0.430 (+2.701%)  Short selling $197.65M; Ratio 23.850%  to HKD17 from HKD14.5, and for C&amp;D INTL GROUP to HKD20 from HKD17.2, with all being rated Buy. It also lifted the TP for YUEXIU PROPERTY (00123.HK) +0.100 (+2.203%)  Short selling $8.48M; Ratio 17.300%  to HKD5 from HKD4.6, maintaining a Buy rating.</p>
<div class="lb-trans"><p>美银证券将华润置地的目标价从 HKD43 上调至 HKD49，将中国海外 (00688.HK) +0.430 (+2.701%) 空头头寸 $197.65M; 比率 23.850% 的目标价从 HKD14.5 上调至 HKD17，将建发国际集团的目标价从 HKD17.2 上调至 HKD20，所有股票均被评级为买入。它还将越秀地产 (00123.HK) +0.100 (+2.203%) 空头头寸 $8.48M; 比率 17.300% 的目标价从 HKD4.6 上调至 HKD5，维持买入评级。</p>
</div><p>(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-11 12:25.)</p>
<div class="lb-trans"><p>（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 11 日 12:25。）</p>
</div>

BofAS: CN Property Mkt Still in Early Recovery; TPs Lifted for CHINA RES LAND, CHINA OVERSEAS, C&D INTL GROUP, YUEXIU PROPERTY

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美银证券表示，中国房地产市场仍然处于早期复苏阶段，并上调了华润置地、中国海外、建发国际集团和越秀地产的目标价格