799 lines
46 KiB
HTML
799 lines
46 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="utf-8" />
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<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
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<title>央国企地产概念分析</title>
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<!-- Tailwind CSS -->
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<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
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<link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
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body {
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font-family: 'Inter', 'Noto Sans SC', sans-serif;
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background: linear-gradient(135deg, #f5f7fa 0%, #e4e8f0 100%);
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min-height: 100vh;
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}
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.concept-card {
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background: rgba(255, 255, 255, 0.9);
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backdrop-filter: blur(10px);
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box-shadow: 0 8px 32px rgba(31, 38, 135, 0.1);
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border: 1px solid rgba(255, 255, 255, 0.18);
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border-radius: 50%;
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background-color: #3b82f6;
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.highlight-text {
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-webkit-text-fill-color: transparent;
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.table-container {
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overflow-x: scroll;
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.section-title {
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position: relative;
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padding-left: 20px;
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.section-title::before {
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content: '';
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width: 6px;
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height: 24px;
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background: linear-gradient(to bottom, #3b82f6, #60a5fa);
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border-radius: 3px;
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}
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.risk-card {
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border-left: 4px solid #ef4444;
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}
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.opportunity-card {
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border-left: 4px solid #10b981;
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}
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</style>
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</head>
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<body class="p-4 md:p-8">
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<div class="max-w-7xl mx-auto">
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<!-- 页面标题 -->
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<div class="mb-10 text-center">
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<h1 class="text-3xl md:text-4xl font-bold text-gray-800 mb-2">央国企地产概念分析</h1>
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<p class="text-gray-600">政策红利 + 估值修复 + 基本面筑底的三重拐点</p>
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</div>
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<!-- 概念事件 -->
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<div class="concept-card rounded-xl p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">概念事件</h2>
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<div class="mb-6">
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<h3 class="text-lg font-semibold text-gray-700 mb-2">背景</h3>
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<p class="text-gray-600 mb-4">2022年以来，房地产行业深度调整，民营房企信用风险暴露，央国企凭借融资优势、土储质量及政策倾斜成为行业"剩者"。2023年7月，住建部推出"城市房地产融资协调机制"，首批名单<span class="highlight-text">超70%为央国企</span>（如保利发展、华润置地、中国海外发展）。2024年政策持续加码：</p>
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<ul class="list-disc pl-5 space-y-2 text-gray-600 mb-4">
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<li><span class="font-semibold">2024年1月</span>：国务院国资委明确将"市值管理"纳入央企考核，<span class="highlight-text">PB<1的央国企地产成为估值修复重点</span>；</li>
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<li><span class="font-semibold">2024年5月</span>：央行设立3000亿元保障性住房再贷款，<span class="highlight-text">央国企成为保障房建设主力</span>；</li>
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<li><span class="font-semibold">2024年11月</span>：监管部门拟对央企上市公司PB提出<span class="highlight-text">量化要求</span>（如PB≥1），<span class="highlight-text">破净地产央企（如中国建筑PB 0.7、中国铁建PB 0.5）面临强制估值修复</span>。</li>
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</ul>
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</div>
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<div>
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<h3 class="text-lg font-semibold text-gray-700 mb-4">催化事件时间轴</h3>
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<div class="relative pl-6">
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<div class="absolute left-0 top-0 bottom-0 w-0.5 bg-blue-200"></div>
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<div class="space-y-6">
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<div class="relative">
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<div class="timeline-dot"></div>
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<div class="timeline-line"></div>
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<h4 class="font-semibold text-gray-800">2023Q4</h4>
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<p class="text-gray-600">首批城中村改造专项借款落地（广州、南京等10城，授信1426亿元）</p>
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</div>
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<div class="relative">
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<div class="timeline-dot"></div>
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<div class="timeline-line"></div>
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<h4 class="font-semibold text-gray-800">2024Q1</h4>
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<p class="text-gray-600">央企市值管理考核细则出台，<span class="highlight-text">中国铁建、中国交建等启动增持</span></p>
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</div>
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<div class="relative">
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<div class="timeline-dot"></div>
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<div class="timeline-line"></div>
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<h4 class="font-semibold text-gray-800">2024Q2</h4>
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<p class="text-gray-600">超长期特别国债发行（1万亿），<span class="highlight-text">30%投向保障房及城市更新</span></p>
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</div>
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<div class="relative">
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<div class="timeline-dot"></div>
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<h4 class="font-semibold text-gray-800">2024Q3</h4>
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<p class="text-gray-600">地产销售降幅收窄，<span class="highlight-text">越秀地产、华润置地等国企销售逆势增长20%+</span></p>
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</div>
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</div>
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</div>
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</div>
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</div>
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<!-- 核心观点摘要 -->
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<div class="concept-card rounded-xl p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">核心观点摘要</h2>
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<div class="bg-blue-50 rounded-lg p-5 border-l-4 border-blue-500">
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<p class="text-lg font-semibold text-gray-800 mb-3">央国企地产正处于"政策红利+估值修复+基本面筑底"的三重拐点</p>
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<ul class="space-y-3">
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<li class="flex items-start">
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<i class="fas fa-check-circle text-blue-500 mt-1 mr-2"></i>
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<div>
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<span class="font-semibold text-gray-700">政策端</span>：从"融资支持"到"市值考核"，央国企成为地产供给侧改革的最大受益者；
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</div>
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</li>
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<li class="flex items-start">
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<i class="fas fa-check-circle text-blue-500 mt-1 mr-2"></i>
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<div>
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<span class="font-semibold text-gray-700">估值端</span>：板块PB中位数仅<span class="highlight-text">0.6倍</span>（历史10%分位），股息率<span class="highlight-text">5-8%</span>，具备"类债券"防御属性；
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</div>
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</li>
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<li class="flex items-start">
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<i class="fas fa-check-circle text-blue-500 mt-1 mr-2"></i>
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<div>
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<span class="font-semibold text-gray-700">基本面</span>：2024年保障房/城中村改造带来<span class="highlight-text">年均万亿级订单</span>，对冲商品房下滑风险。
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</div>
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</li>
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</ul>
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</div>
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</div>
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<!-- 概念的核心逻辑与市场认知分析 -->
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<div class="concept-card rounded-xl p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">概念的核心逻辑与市场认知分析</h2>
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-gray-700 mb-3">核心驱动力</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
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<div class="opportunity-card bg-green-50 rounded-lg p-4">
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<h4 class="font-semibold text-gray-800 mb-2">政策垄断性红利</h4>
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<ul class="space-y-2 text-gray-600">
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<li><span class="font-semibold">土储优势</span>：2023年22城集中供地中，<span class="highlight-text">央国企拿地占比超70%</span>（如华润置地1-4月拿地420亿，占销售53%）；</li>
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<li><span class="font-semibold">融资特权</span>：央企地产发债利率<span class="highlight-text">3-4%</span>（民企普遍>8%），2024年Q1新增融资中<span class="highlight-text">90%流向央国企</span>。</li>
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</ul>
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</div>
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<div class="opportunity-card bg-green-50 rounded-lg p-4">
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<h4 class="font-semibold text-gray-800 mb-2">商业模式转型</h4>
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<ul class="space-y-2 text-gray-600">
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<li><span class="font-semibold">从开发到运营</span>：中国建筑（中海地产）2023年商业运营收入<span class="highlight-text">+30%</span>，华润万象生活（央企物管）毛利率<span class="highlight-text">50%+</span>；</li>
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<li><span class="font-semibold">REITs盘活存量</span>：首批保障房REITs（如深圳人才安居）中，<span class="highlight-text">央企项目占比60%</span>。</li>
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</ul>
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</div>
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</div>
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</div>
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-gray-700 mb-3">市场热度与情绪</h3>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
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<div class="bg-purple-50 rounded-lg p-4">
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<h4 class="font-semibold text-gray-800 mb-2">研报密集度</h4>
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<p class="text-gray-600">2024年11月至今，<span class="highlight-text">15篇建筑/地产研报标题含"央国企估值修复"</span>（如国盛建筑、光大建材）</p>
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</div>
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<div class="bg-purple-50 rounded-lg p-4">
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<h4 class="font-semibold text-gray-800 mb-2">资金动向</h4>
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<p class="text-gray-600">2024Q3公募基金对地产板块持仓<span class="highlight-text">仅0.5%</span>（历史均值2.3%），<span class="highlight-text">筹码极度出清</span></p>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-semibold text-gray-700 mb-3">预期差</h3>
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<div class="bg-yellow-50 rounded-lg p-4">
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<div class="mb-3">
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<h4 class="font-semibold text-gray-800 mb-1">市场共识</h4>
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<p class="text-gray-600">认为央国企地产仅是"政策托底"，成长性不足</p>
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</div>
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<div>
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<h4 class="font-semibold text-gray-800 mb-1">忽略点</h4>
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<ul class="list-disc pl-5 space-y-1 text-gray-600">
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<li><span class="highlight-text">保障房订单弹性</span>：中国建筑2024年保障房新签<span class="highlight-text">超2000亿</span>（占房建订单30%）；</li>
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<li><span class="highlight-text">土地财政替代</span>：2025年土地出让金缺口或达<span class="highlight-text">3万亿</span>，<span class="highlight-text">央国企股权财政（REITs+分红）将填补缺口</span>。</li>
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</ul>
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</div>
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</div>
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</div>
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</div>
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<!-- 关键催化剂与未来发展路径 -->
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<div class="concept-card rounded-xl p-6 mb-8">
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<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">关键催化剂与未来发展路径</h2>
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-gray-700 mb-3">近期催化剂（3-6个月）</h3>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
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<div class="bg-indigo-50 rounded-lg p-4 text-center">
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<div class="bg-indigo-100 w-12 h-12 rounded-full flex items-center justify-center mx-auto mb-3">
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<i class="fas fa-calendar-alt text-indigo-600"></i>
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</div>
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<h4 class="font-semibold text-gray-800 mb-1">2024年12月</h4>
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<p class="text-sm text-gray-600">央企市值管理考核细则落地，<span class="highlight-text">破净地产央企强制披露估值提升计划</span></p>
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</div>
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<div class="bg-indigo-50 rounded-lg p-4 text-center">
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<div class="bg-indigo-100 w-12 h-12 rounded-full flex items-center justify-center mx-auto mb-3">
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<i class="fas fa-coins text-indigo-600"></i>
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</div>
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<h4 class="font-semibold text-gray-800 mb-1">2025年Q1</h4>
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<p class="text-sm text-gray-600">首批城中村改造专项债发行（预计<span class="highlight-text">5000亿</span>），<span class="highlight-text">中国交建、中国中铁等订单爆发</span></p>
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</div>
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<div class="bg-indigo-50 rounded-lg p-4 text-center">
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<div class="bg-indigo-100 w-12 h-12 rounded-full flex items-center justify-center mx-auto mb-3">
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<i class="fas fa-building text-indigo-600"></i>
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</div>
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<h4 class="font-semibold text-gray-800 mb-1">2025年3月</h4>
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<p class="text-sm text-gray-600">保障房REITs扩募，<span class="highlight-text">华润置地、保利发展</span>等资产注入预期</p>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-semibold text-gray-700 mb-3">长期路径（2025-2027）</h3>
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<div class="relative">
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<div class="absolute left-4 top-0 bottom-0 w-0.5 bg-blue-200"></div>
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<div class="space-y-6">
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<div class="flex items-start">
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<div class="bg-blue-500 w-8 h-8 rounded-full flex items-center justify-center text-white font-bold z-10">1</div>
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<div class="ml-4 flex-1">
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<h4 class="font-semibold text-gray-800">阶段1（2025）：估值修复</h4>
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<p class="text-gray-600">PB从0.6→1.0，驱动因素为<span class="highlight-text">分红率提升至40%+回购注销</span></p>
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</div>
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</div>
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<div class="flex items-start">
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<div class="bg-blue-500 w-8 h-8 rounded-full flex items-center justify-center text-white font-bold z-10">2</div>
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<div class="ml-4 flex-1">
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<h4 class="font-semibold text-gray-800">阶段2（2026-2027）：盈利重构</h4>
|
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<p class="text-gray-600">保障房/代建业务占比提升至<span class="highlight-text">50%</span>，净利率从8%→12%</p>
|
||
</div>
|
||
</div>
|
||
</div>
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||
</div>
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</div>
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</div>
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<!-- 产业链与核心公司深度剖析 -->
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<div class="concept-card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">产业链与核心公司深度剖析</h2>
|
||
|
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-gray-700 mb-3">产业链图谱</h3>
|
||
<div class="bg-gray-50 rounded-lg p-4">
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<div class="flex flex-col md:flex-row items-center justify-between">
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<div class="text-center mb-4 md:mb-0">
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<div class="bg-blue-100 w-16 h-16 rounded-full flex items-center justify-center mx-auto mb-2">
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<i class="fas fa-map-marked-alt text-blue-600 text-xl"></i>
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</div>
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<h4 class="font-semibold text-gray-800">上游</h4>
|
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<p class="text-sm text-gray-600">土地获取<br>（央企城投）</p>
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</div>
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<div class="text-center mb-4 md:mb-0">
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<i class="fas fa-arrow-right text-gray-400 text-2xl"></i>
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</div>
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<div class="text-center mb-4 md:mb-0">
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<div class="bg-green-100 w-16 h-16 rounded-full flex items-center justify-center mx-auto mb-2">
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<i class="fas fa-hard-hat text-green-600 text-xl"></i>
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</div>
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<h4 class="font-semibold text-gray-800">中游</h4>
|
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<p class="text-sm text-gray-600">开发建设<br>（中国建筑、中国铁建）</p>
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</div>
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<div class="text-center mb-4 md:mb-0">
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<i class="fas fa-arrow-right text-gray-400 text-2xl"></i>
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</div>
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<div class="text-center">
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<div class="bg-purple-100 w-16 h-16 rounded-full flex items-center justify-center mx-auto mb-2">
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<i class="fas fa-building-user text-purple-600 text-xl"></i>
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</div>
|
||
<h4 class="font-semibold text-gray-800">下游</h4>
|
||
<p class="text-sm text-gray-600">运营/物管<br>（华润万象生活、保利物业）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-3">核心玩家对比</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white rounded-lg overflow-hidden">
|
||
<thead class="bg-gray-100">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">公司</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">核心逻辑</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">风险</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody class="divide-y divide-gray-200">
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中国建筑</td>
|
||
<td class="py-3 px-4 text-gray-600">房建订单市占率<span class="highlight-text">15%</span>，保障房龙头；PB 0.7，股息率<span class="highlight-text">6%</span></td>
|
||
<td class="py-3 px-4 text-gray-600">地产减值拖累利润</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华润置地</td>
|
||
<td class="py-3 px-4 text-gray-600">一二线土储占比<span class="highlight-text">85%</span>，商业运营收入增速<span class="highlight-text">30%</span>；PB 0.9，股息率<span class="highlight-text">5.5%</span></td>
|
||
<td class="py-3 px-4 text-gray-600">高端盘去化不及预期</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中国铁建</td>
|
||
<td class="py-3 px-4 text-gray-600">城中村改造订单占比<span class="highlight-text">20%</span>，PB 0.5（板块最低），股权激励目标<span class="highlight-text">ROE≥12%</span></td>
|
||
<td class="py-3 px-4 text-gray-600">应收账款周转天数<span class="highlight-text">80天</span></td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">越秀地产</td>
|
||
<td class="py-3 px-4 text-gray-600">广州旧改霸主，2024年销售目标<span class="highlight-text">+20%</span>；PB 0.8，股息率<span class="highlight-text">7%</span></td>
|
||
<td class="py-3 px-4 text-gray-600">区域集中度过高风险</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-6">
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-3">验证与证伪</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
|
||
<div class="bg-green-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-gray-800 mb-2 flex items-center">
|
||
<i class="fas fa-check-circle text-green-500 mr-2"></i>印证
|
||
</h4>
|
||
<p class="text-gray-600">2024年1-4月，<span class="highlight-text">越秀地产销售+100%</span>（第三方数据），验证旧改订单转化能力</p>
|
||
</div>
|
||
<div class="bg-yellow-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-gray-800 mb-2 flex items-center">
|
||
<i class="fas fa-exclamation-circle text-yellow-500 mr-2"></i>矛盾
|
||
</h4>
|
||
<p class="text-gray-600">研报称中国建筑"房建占比高"，但其2023年地产开发收入仅占<span class="highlight-text">25%</span>，<span class="highlight-text">代建/保障房占比提升</span>未被充分定价</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 潜在风险与挑战 -->
|
||
<div class="concept-card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">潜在风险与挑战</h2>
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white rounded-lg overflow-hidden">
|
||
<thead class="bg-gray-100">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">风险类型</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">具体表现</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody class="divide-y divide-gray-200">
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">政策风险</td>
|
||
<td class="py-3 px-4 text-gray-600">若2025年地产刺激政策转向（如放松限购），<span class="highlight-text">民企竞争回升</span>可能挤压央国企份额</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">商业化风险</td>
|
||
<td class="py-3 px-4 text-gray-600">保障房项目毛利率<span class="highlight-text">仅8-10%</span>（低于商品房15%），<span class="highlight-text">规模扩张或稀释盈利</span></td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">信息矛盾</td>
|
||
<td class="py-3 px-4 text-gray-600">部分研报预测"地产投资-10%"，但<span class="highlight-text">城中村改造实际投资额或超预期50%</span>（需跟踪专项债落地）</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 综合结论与投资启示 -->
|
||
<div class="concept-card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">综合结论与投资启示</h2>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-3">结论</h3>
|
||
<div class="bg-gradient-to-r from-blue-50 to-indigo-50 rounded-lg p-5">
|
||
<p class="text-lg font-semibold text-gray-800">央国企地产已从"政策托底"进入<span class="highlight-text">"订单驱动+估值修复"</span>双击阶段，<span class="highlight-text">2025年或为盈利拐点</span>。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-3">投资方向</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-blue-50 rounded-lg p-4">
|
||
<div class="flex items-center mb-2">
|
||
<div class="bg-blue-100 w-10 h-10 rounded-full flex items-center justify-center mr-3">
|
||
<i class="fas fa-coins text-blue-600"></i>
|
||
</div>
|
||
<h4 class="font-semibold text-gray-800">高股息防御</h4>
|
||
</div>
|
||
<p class="text-gray-600"><span class="highlight-text">中国建筑、中国铁建</span>（股息率6%+，PB<0.8）</p>
|
||
</div>
|
||
<div class="bg-green-50 rounded-lg p-4">
|
||
<div class="flex items-center mb-2">
|
||
<div class="bg-green-100 w-10 h-10 rounded-full flex items-center justify-center mr-3">
|
||
<i class="fas fa-chart-line text-green-600"></i>
|
||
</div>
|
||
<h4 class="font-semibold text-gray-800">旧改弹性</h4>
|
||
</div>
|
||
<p class="text-gray-600"><span class="highlight-text">越秀地产、中国交建</span>（城中村改造订单占比>20%）</p>
|
||
</div>
|
||
<div class="bg-purple-50 rounded-lg p-4">
|
||
<div class="flex items-center mb-2">
|
||
<div class="bg-purple-100 w-10 h-10 rounded-full flex items-center justify-center mr-3">
|
||
<i class="fas fa-file-invoice-dollar text-purple-600"></i>
|
||
</div>
|
||
<h4 class="font-semibold text-gray-800">REITs期权</h4>
|
||
</div>
|
||
<p class="text-gray-600"><span class="highlight-text">华润置地、保利发展</span>（商业资产可注入保障房REITs）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-3">跟踪指标</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
|
||
<div class="bg-gray-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-gray-800 mb-2">月度数据</h4>
|
||
<ul class="list-disc pl-5 space-y-1 text-gray-600">
|
||
<li>保障房新开工面积（住建部）</li>
|
||
<li>城中村专项债发行进度（财政部）</li>
|
||
</ul>
|
||
</div>
|
||
<div class="bg-gray-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-gray-800 mb-2">公司验证</h4>
|
||
<ul class="list-disc pl-5 space-y-1 text-gray-600">
|
||
<li>中国建筑2025年保障房订单占比能否<span class="highlight-text">超30%</span></li>
|
||
<li>华润置地商业REITs申报进展</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关联股票数据表格 -->
|
||
<div class="concept-card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold text-gray-800 mb-4 section-title">关联股票数据</h2>
|
||
<div class="table-container">
|
||
<table class="min-w-full bg-white rounded-lg overflow-hidden">
|
||
<thead class="bg-gray-100">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">股票名称</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">分类</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">行业</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700">投资逻辑</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody class="divide-y divide-gray-200">
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">保利发展</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">招商蛇口</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">广宇发展</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中国海外发展</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华润置地</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">光大嘉宝</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中交地产</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">信达地产</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">大悦城</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华侨城A</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">南国置业</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">招商积余</td>
|
||
<td class="py-3 px-4 text-gray-600">中央国有企业</td>
|
||
<td class="py-3 px-4 text-gray-600">物业管理</td>
|
||
<td class="py-3 px-4 text-gray-600">住建部城市房地产融资协调机制首批名单企业，央国企地产估值修复受益标的</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">万科A</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">深振业A</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">深物业A</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">沙河股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">深深房A</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">天健集团</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">特发服务</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（深圳）</td>
|
||
<td class="py-3 px-4 text-gray-600">物业服务</td>
|
||
<td class="py-3 px-4 text-gray-600">深圳地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">亚通股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">西藏城投</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">同济科技</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">建筑科技</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">外高桥</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">张江高科</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华建集团</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">建筑设计</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">上海临港</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">浦东金桥</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中华企业</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">光明地产</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">上实发展</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（上海）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">上海地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">南京高科</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（江苏）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">江苏地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">黑牡丹</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（江苏）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">江苏地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">栖霞建设</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（江苏）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">江苏地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">苏州高新</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（江苏）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">江苏地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">中新集团</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（江苏）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">江苏地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">金融街</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">新黄浦</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">ST数源</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">天保基建</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">合肥城建</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">南山控股</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">大龙地产</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">格力地产</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华发股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">天地源</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">华远地产</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">宁波富达</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">空港股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">园区开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">世联行</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产服务</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">珠江股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">首开股份</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">房地产开发</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-medium text-gray-800">浙江建投</td>
|
||
<td class="py-3 px-4 text-gray-600">地方国有企业（其他）</td>
|
||
<td class="py-3 px-4 text-gray-600">建筑施工</td>
|
||
<td class="py-3 px-4 text-gray-600">其他地区地方国企，住建部首批融资协调机制落地企业</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</body>
|
||
</html>
|
||
``` |