房地产行业2019年中期投资策略：疾风知劲草.pdf

Table_MainInfo Table_Title / 2019 Table_Summary 1-25 19 -5%-10%5% -8% 233018 1001917 18A Table_CompanyFinance EPS PE 2017A 2018E 2019E 2017A 2018E 2019E A 28.31 2.54 3.17 4.01 11.15 8.93 7.06 9.84 1.32 1.76 2.17 7.45 5.59 4.53 8.87 0.16 0.59 1.08 55.44 15.03 8.21 12.22 1.52 2.09 2.57 8.04 5.85 4.75 30.81 3.91 5.09 6.31 7.88 6.05 4.88 i S 2019E 2020E 2021E 2019E 2020E 2021E 6.32 1.14 1.68 2.25 5.5 3.8 2.8 9.64 2.17 2.58 3.00 4.4 3.7 3.2 82 1.12 1.92 2.52 7.9 4.6 3.5 31.25 5.09 6.31 8.24 6.1 5 3.9 Table_Invest Table_PicQuote -20%-11%-2%7%16%25%2018/62018/72018/82018/92018/102018/112018/122019/12019/22019/32019/42019/5Table_Trend % 1M 3M 12M 2.52% -7.64% 0.97% -3.25% -9.21% -5.80% Table_IndustryMarket 163 24924 21117 10.33 1.77 22993 2044 % 79.18 Table_Report 2019-06-04 20182019-04-29 2018-11-30 Table_Author S0550511020011 S0550117090050 S0550118070032 / 2019-06-27 2 / 49Table_PageTop 1. . 7 1.1. .7 1.2. .8 1.3. . 11 1.4. .13 1.5. .17 1.6. .19 2. . 22 2.1. .22 2.2. .23 2.3. .25 2.4. .26 2.5. .30 3. . 33 3.1. .33 3.2. .34 3.3. .36 4. . 36 4.1. .36 4.2. .37 4.3. .38 4.4. .39 5. . 41 5.1. .41 5.2. .42 5.3. .43 5.3.1. . 44 5.3.2. . 45 5.3.3. . 46 5.3.4. . 47 3 / 49Table_PageTop 1 A . 7 2 . 8 3 . 8 4 30 . 8 5 . 8 6 . 9 7 . 9 8 . 9 9 . 9 10 . 10 11 . 10 12 . 10 13 / . 10 14 .11 15 .11 16 .11 17 .11 18 . 12 19 . 12 20 . 13 21 . 13 22 . 13 23 . 13 24 ROE. 13 25 ROE. 13 26 10 20 100 . 14 27 10 20 100 . 14 28 2018 . 14 29 2018 . 14 30 . 15 31 30 . 15 32 . 15 33 . 15 34 . 16 35 . 16 36 . 17 37 2019 1-5 . 18 38 . 18 39 / . 18 40 . 19 41 . 19 42 . 19 4 / 49Table_PageTop 43 . 19 44 . 20 45 . 20 46 . 20 47 . 20 48 . 22 49 . 22 50 . 22 51 . 22 52 . 23 53 . 23 54 2010 . 23 55 . 24 56 . 24 57 . 24 58 . 24 59 . 24 60 . 24 61 . 25 62 . 25 63 . 25 64 . 26 65 . 26 66 . 26 67 . 26 68 . 26 69 2005 . 27 70 . 27 71 . 27 72 . 28 73 . 28 74 30 . 28 75 . 28 76 . 28 77 . 28 78 . 29 79 . 29 80 2010 . 29 81 . 30 82 . 30 83 70 . 30 84 . 31 85 . 31 86 . 31 87 . 31 5 / 49Table_PageTop 88 . 31 89 2010 . 32 90 . 33 91 . 33 92 . 37 93 . 37 94 . 37 95 . 38 96 . 38 97 . 38 98 . 38 99 . 38 100 . 39 101 . 39 102 . 39 103 . 39 104 . 41 105 . 41 106 . 41 107 2019Q1 . 42 108 . 42 109 PE A . 42 110 PB A . 42 6 / 49Table_PageTop 1 A .