<p>CLSA 发布报告称，九龙仓置业（01997.HK）+0.220 (+0.852%) 的管理层语气自 2023 年疫情后重启以来首次转为积极。该券商认为，这反映了超出预期的运营表现，为营业租金和百分比租金提供了上行潜力。</p>
<p>报告指出，五一黄金周期间奢侈品销售势头强劲，人均消费有所改善，券商认为这在一定程度上是由于港元贬值所推动。CLSA 对香港奢侈品销售的前景持乐观态度，重申对九龙仓置业（01997.HK）+0.220 (+0.852%) 的跑赢大市评级，目标价为 40 港元，并继续将其视为奢侈品零售领域的首选。 (ha/u)(香港股票报价延迟至少 15 分钟。空头头寸数据截至 2026-05-13 16:25.)</p>

九龙仓置业

<p>CLSA 发布了一份报告，指出九龙仓置业自疫情后重启以来首次传达出积极的管理语气。该券商强调了在五一黄金周期间奢侈品销售强劲以及人均消费改善，部分原因是港元贬值。CLSA 对九龙仓置业维持 “跑赢大市” 的评级，目标价为 40 港元，认为其是奢侈品零售行业的首选</p>

<p>CLSA issued a report stating that the management tone of WHARF REIC (01997.HK) +0.220 (+0.852%)  Short selling $74.81M; Ratio 32.501%  has turned positive for the first time since the post-pandemic reopening in 2023. The broker believes this reflects better-than-expected operating performance, providing upside potential to turnover rent and percentage rent.</p>
<div class="lb-trans"><p>CLSA 发布报告称，九龙仓置业（01997.HK）+0.220 (+0.852%) 的管理层语气自 2023 年疫情后重启以来首次转为积极。该券商认为，这反映了超出预期的运营表现，为营业租金和百分比租金提供了上行潜力。</p>
</div><p>The report noted that luxury goods sales momentum was strong during the May Day Golden Week, with improvement in per capita spending, which the broker believes was partly driven by the depreciation of HKD. CLSA remains optimistic about the outlook for Hong Kong's luxury goods sales, reiterates its Outperform rating on WHARF REIC (01997.HK) +0.220 (+0.852%)  Short selling $74.81M; Ratio 32.501%  with a TP of HKD40, and continues to view it as the top pick in the luxury retail sector. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-13 16:25.)</p>
<div class="lb-trans"><p>报告指出，五一黄金周期间奢侈品销售势头强劲，人均消费有所改善，券商认为这在一定程度上是由于港元贬值所推动。CLSA 对香港奢侈品销售的前景持乐观态度，重申对九龙仓置业（01997.HK）+0.220 (+0.852%) 的跑赢大市评级，目标价为 40 港元，并继续将其视为奢侈品零售领域的首选。 (ha/u)(香港股票报价延迟至少 15 分钟。空头头寸数据截至 2026-05-13 16:25.)</p>
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里昂证券对香港奢侈品销售的前景依然乐观；在奢侈品零售领域，九龙仓置业被选为首选