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图表16.截至6月1日,有退市风险的12家房地产行业公司总市值274亿元,占地产A股公司总
图表16.截至6月1日,有退市风险的12家房地产行业公司总市值274亿元,占地产A股公司总
行业数据
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图片属性
图片格式:PNG
图片大小:124KB
图片尺寸:1948*1024
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所属报告:
房地产行业房企退市专题研究:十余家房企面临“1元退市”风险对行业整体影响有限-230602(19页).pdf
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lOeptuaJgA==
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行业数据
2026-07-06
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2026年我国房地产市场延续承压
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2026-07-01
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图1有色金属行业2026年至今累计小幅下跌,相对基准有较大的负向收益
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日本房地产企业和产业链企业相对日经225超额收益
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产业链
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房地产及产业链各指标相关性
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产业链
2026-06-26
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产业链
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美国房地产和产业链相对标普500超额收益
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产业链
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产业链
2026-06-26
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2010年以来房地产产业链PB(LF)估值水平(倍)
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产业链
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图24、房地产规模占比提升2.82pct至32.4%
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我们认为面临退市风险的企业仍属个别现象,市值占比仅有 2%,对房地产板块的影响相对有限,应当理性看待。短期内,房企退市发生,市场对于地产股的关注度及受欢迎度将降低,在无外部支持的情况下,整体融资通道也会继续受到影响,也一定程度上反映了市场对房地产行业的信心不足。但是我们认为面临退市风险的企业仍属个别现象,对房地产板块的影响相对有限,应当理性看待。一方面,强化退市制度有助于保证股票市场合理供给,在一定程度上提升投资者的风险意识,促使投资者关注基本面优质、行业发展前景较好的地产公司。整体而言,利于行业加速出清,对整体行业格局产生一定变化。另一方面,此次有退市风险的房地产行业公司在整体板块内的权重影响不大。截至 6 月 1 日,有退市风险的 12 家房地产行业公司总市值合计仅 273.8 亿元,占整体 115 家房地产A 股公司总市值的比重仅 2.0%;已经锁定退市的 8 家房企市值合计仅 114.9 亿元,占整体 115 家房地产 A 股公司总市值的比重仅 0.9%。退市后,这部分的份额将会让出。房地产行业“强者恒强”的现状将持续深化,优秀企业仍具立足之处,长期价值犹在,不应该因个别企业问题否定整个行业。此外 2023 年来销售已经开始修复,应理性看待房企退市风波对整个行业的影响。
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房地产行业房企退市专题研究:十余家房企面临“1元退市”风险对行业整体影响有限-230602(19页).pdf
图表9.市值跌至3亿元附近或以下的上市公司中无房地产行业上市公司
图表4.2001-2023年5月末,我国A股退市的上市公司合计198家,过去23年的平均退市率仅
图表3.财务造假强制退市指标
图表2.沪深交易所共有4类强制退市指标
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