房地产行业点评:地产后增量时代的机遇
ufÝ>P | A÷n.J0‹Û 2025 “ 8 > 9 fÝDÔH,,”pF} 2 -$ 1 ufÝ>PH- `Ñ’lE„]‚DÔH,,”pF}-vH^ÔH2ôDHN L ..................................................................................... 6 2 ÔH2ô˘UfÑ55_HHC^+ 60AôC^Ô~................ 9 2.1 UfÑ55_HHC^˘:fG~Ñf‚ÞÞnøf!º»f8‚?œHB9“*>*< ... 9 2.2 60AôC^Ô~˘FPEý‡u0AôF#‚*‡%CØ÷C^ uM6"x‚Ô)ææ,”Ñ"x'31Þ7'> .............................................................................................................................11 3 HN L˘8*æQC^H62025 “ 8 > 9 fÝDÔH,,”pF} 3 4>-$ 4> 1. 3|÷uK6dM0%^2021“Eôf&r17.9ı'D675#A%‚2024“ß9.7ı'‚G"N”Aׂ2025“|÷uK6dM0%<L8)8.8ı' ........................ 6 4> 2. ,·æuFÚB"CUÔKµ,”8ƒH "F!6]8)63% .................... 6 4> 3. 3|÷uK6d}-^2023“Eôf&r1.04=y /'‚ 2024“60)æA%·B"-5% µ8)935y /'‚2025H175#A%·B"-2% µ8)9649y /' ......... 7 4> 4. 70æuu-8 2023“F5#AL‚´uu-8 2022“g6AL7 4> 5. 2025H1 70æuu-B"AD8ƒHQEô67 ‘ ......................................... 7 4> 6. 2025H1v?70 ´uu-B"}AD ..................................................... 7 4> 7. 2025H164ı8æuu-L{l0”˙´4ı8L{]˙?4ı8L{] ................................................................................................................................... 8 4> 8. 2025H164ı8´uu-L{l0”˙´4ı8L{l0”˙?4ı8L{] ............................................................................................................................... 8 4> 9. F“:875#N LU-.'u1 ........................................................... 9 4> 10. 2025H1330 »2–+^fFÚUf0Mp1.8ı'‚B"AL4% . 9 4> 11. 2025H1 330 »2–+^fFÚUf†M}-4542y /'‚B"ÔKµ25% ............................................................................................................................... 9 4> 12. 2025“@ “330 »2–+^fFÚUf'}$Ø-)‰10.5%‚B" } 6.5‘,·<&ï ........................................................................................................... 10 4> 13. 2025“@ “3FÚUffï0%)‰p2.0 ‚B"AL0.1 ‚´Q&UNfl-$?DtAL .............................................................................................................. 10 4> 14. 2025“@ “$’i=£ »+^f'}$Ø-)‰C»30%‚@#›=FG3C» 20% ..................................................................................................................................... 10 4> 15. 55=%"= #Ü^@ “9í,”Q$Ø-UfE„P ................................ 11 4> 16. Ñ5݇uu1|ìFF!D.⁄........................................................ 12 4> 17. 2025“ 6 >µæ?œÝ÷6- æ L)‰p39%‚t:Q˜?œÝ÷,”9% ‚Q˜8,”28% .................................
[中银证券]:房地产行业点评:地产后增量时代的机遇,点击即可下载。报告格式为PDF,大小3.26M,页数39页,欢迎下载。
