研报掘金丨国盛证券：维持华发股份“买入”评级，前海冰雪世界即将开业

Core Viewpoint - The Shenzhen Qianhai Ice and Snow World project, developed and wholly owned by Huafa Group, is set to officially open at the end of September, with expectations of significant revenue contributions post-maturity [1] Company Summary - The ticket prices for the Qianhai Ice and Snow World are set higher than competitors, indicating a premium positioning strategy [1] - Once the project matures, it is anticipated to contribute annual revenue of 650 million yuan and a net profit of 130 million yuan [1] - The company benefits from a state-owned background, strong support from major shareholders, and maintains ample liquidity [1] - The upcoming issuance of targeted convertible bonds is expected to enhance the company's ability to seize potential market recovery opportunities [1] Industry Summary - The company is entering a period where high-margin land parcels will begin to be recognized in financial results, providing a stabilizing effect on performance [1] - Despite the current industry downturn, there may still be some impairment pressure on the company [1] - The overall outlook remains positive, with a "buy" rating maintained for the stock [1]