地产A股2018年下半年投资策略：和时间做朋友.pdf

Page 1 Table_IndustryInfo A 2018 2018 07 11 300 A A A A A A A PE 2017 / 6 A A + A 2009 2012 2014 2-4 A 2018 6 -2018-06-07 A 2018 -2018-04-02 2017 2017 7% -2018-01-22 A 2017 -2017-06-30 A -2016-06-12 0755-82130678 E-MAIL ourmguosen S0980510120051 0.6 0.8 1.0 1.2 1.4 J/17 S/17 N/17 J/18 M/18 M/18 300 Page 2 A A 2008 2012 A A 1. 2. 3. A 4. Page 3 2009 2012 2014 2-4 A A A 10 2017 2016 A A A A A 2017 2016 2016 4 A 2017 2016 2016 2016 29 2016 A 2016 2017 A 2017 A 2017 6 A 2017 2017 A 2017 2017 12 2018 1 A 2017 A 2017 2018 1 2017 2017 A 2018 2 2018 2018 1. 1 22 A 2017 7% A A 2. 1 29 A Page 4 3. 4 2 A A 2018 2 3 2018 28 4 A 4. 4 100 A 5 7 A 5 5. 6 A 6 8 A 6 10 A 2018 2018 1 A 2018 1 1 2018 2 4 2011 3 2018 2018 4 2017 1. 2018 5 9.8 12-16 2012 3 2. / 2018 2017 5 10.26% 7.21 2018 3. Page 5 4. 5 50 111.5% 1-5 57.6% 5. 4 3 4 5 3 5 A A 2009 12 2010 2013 2016 2018 1 1. A A 2. A A 3. A