<p>美银证券发布了一份研究报告，维持对中国房地产行业的积极看法，认为复苏将是阶段性和差异化的。该券商指出，行业基本面具有上行潜力，主要受一线城市豪华住宅项目的定价能力驱动，以及更多二线城市市场出现触底迹象。它对该行业保持建设性态度，特别青睐高端住宅细分市场。</p>
<p>美银证券将中国海外发展（00688.HK）的目标价从 17 港元上调至 19 港元，上涨 0.010 港元（+0.064%），以反映对其 2028 年每股收益预测的上调，并维持买入评级。该券商解释称，目标价的上调是由于更高的利润率预测和对 2028 年预测的滚动。它指出，优质国有企业目前的 2028 年预期市盈率约为 8.5 倍，略高于历史平均水平，如果复苏得到确认，估值仍有上行潜力。它在中国房地产行业的首选股票是中国海外发展（00688.HK）+0.010 (+0.064%)，短期卖空 5644 万美元；比例 34.370%，华润置地（01109.HK）+0.420 (+1.205%)，短期卖空 1.3176 亿美元；比例 33.982%，以及建发国际集团（01908.HK）-0.110 (-0.679%)，短期卖空 342 万美元；比例 10.478%。</p>
<p>美银证券预计未来一年复苏将是渐进和分阶段的。它预测到 2026 年，全国新房销售量和销售额将分别下降 6% 至 7% 和 8% 至 9%，然后在 2027 年稳定。该券商强调，中国海外发展（00688.HK）在五一黄金周期间的合同销售同比实现了个位数增长，尽管假期后增长有所放缓。该公司计划在 6 月推出更多大规模新项目，但将面临从 5 月到 6 月的更高比较基数。整体定价保持稳定，某些项目略有价格上涨。（ad/da）（香港股票报价延迟至少 15 分钟。短期卖空数据截至 2026 年 5 月 21 日 12:25。）</p>

华润置地

中国海外发展

<p>BofAS 已将中国海外发展的目标价从 17 港元上调至 19 港元，维持买入评级，原因是利润率预测改善和行业前景积极。报告强调了中国房地产行业的逐步复苏，特别是一线城市的豪华住宅项目。BofAS 预计将逐步复苏，预计全国新房销售将在 2027 年前下降后稳定。主要推荐包括中国海外发展、华润置地和 C&D 国际集团</p>

<p>BofAS published a research report maintaining a positive view on Chinas real estate sector, believing the recovery will be phased and differentiated. The broker noted that sector fundamentals have upside potential, mainly driven by pricing power of luxury residential projects in Tier-1 cities and signs that more Tier-2 city markets are bottoming out. It maintained a constructive stance on the sector, particularly favoring the high-end residential segment.</p>
<div class="lb-trans"><p>美银证券发布了一份研究报告，维持对中国房地产行业的积极看法，认为复苏将是阶段性和差异化的。该券商指出，行业基本面具有上行潜力，主要受一线城市豪华住宅项目的定价能力驱动，以及更多二线城市市场出现触底迹象。它对该行业保持建设性态度，特别青睐高端住宅细分市场。</p>
</div><p>BofAS raised the TP for CHINA OVERSEAS (00688.HK) +0.010 (+0.064%)  Short selling $56.44M; Ratio 34.370%  from HKD17 to HKD19 to reflect upward revisions to its 2028 EPS forecasts, and maintained a Buy rating. The broker explained that the TP hike was due to higher profit margin forecasts and the rollover to 2028 projections. It noted that quality state-owned enterprises are currently trading at around 8.5x projected 2028 price-to-earnings, slightly above historical averages, and valuations still have upside potential if the recovery is confirmed. Its top picks in the China property sector are CHINA OVERSEAS (00688.HK) +0.010 (+0.064%)  Short selling $56.44M; Ratio 34.370%  , CHINA RES LAND (01109.HK) +0.420 (+1.205%)  Short selling $131.76M; Ratio 33.982%  and C&amp;D INTL GROUP (01908.HK) -0.110 (-0.679%)  Short selling $3.42M; Ratio 10.478%  .</p>
<div class="lb-trans"><p>美银证券将中国海外发展（00688.HK）的目标价从 17 港元上调至 19 港元，上涨 0.010 港元（+0.064%），以反映对其 2028 年每股收益预测的上调，并维持买入评级。该券商解释称，目标价的上调是由于更高的利润率预测和对 2028 年预测的滚动。它指出，优质国有企业目前的 2028 年预期市盈率约为 8.5 倍，略高于历史平均水平，如果复苏得到确认，估值仍有上行潜力。它在中国房地产行业的首选股票是中国海外发展（00688.HK）+0.010 (+0.064%)，短期卖空 5644 万美元；比例 34.370%，华润置地（01109.HK）+0.420 (+1.205%)，短期卖空 1.3176 亿美元；比例 33.982%，以及建发国际集团（01908.HK）-0.110 (-0.679%)，短期卖空 342 万美元；比例 10.478%。</p>
</div><p>BofAS expects the recovery to be gradual and phased over the coming year. It forecasts that in 2026, national new home sales volume and value will decline by 6% to 7% and 8% to 9%, respectively, before stabilizing in 2027. The broker highlighted that CHINA OVERSEAS (00688.HK) +0.010 (+0.064%)  Short selling $56.44M; Ratio 34.370%  recorded YoY single-digit growth in contracted sales during the May Day Golden Week period, though growth moderated after the holiday. The company plans to launch more large-scale new projects in June, but will face a higher comparison base from May to June. Overall pricing remains stable, with slight price increases in certain projects. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-21 12:25.)</p>
<div class="lb-trans"><p>美银证券预计未来一年复苏将是渐进和分阶段的。它预测到 2026 年，全国新房销售量和销售额将分别下降 6% 至 7% 和 8% 至 9%，然后在 2027 年稳定。该券商强调，中国海外发展（00688.HK）在五一黄金周期间的合同销售同比实现了个位数增长，尽管假期后增长有所放缓。该公司计划在 6 月推出更多大规模新项目，但将面临从 5 月到 6 月的更高比较基数。整体定价保持稳定，某些项目略有价格上涨。（ad/da）（香港股票报价延迟至少 15 分钟。短期卖空数据截至 2026 年 5 月 21 日 12:25。）</p>
</div>

BofAS Lifts CHINA OVERSEAS  TP to HKD19, Positive on Sector Recovery

AASTOCKS News

美国银行

建发国际集团

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

美银证券将中国海外发展的目标价上调至 19 港元，并对行业的复苏持乐观态度