




版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
22024222023© 22023© 0130220033304390544202320232024220234|©20242024220234|©20242019142.2%13.512.7142.2%13.512.712.611.58.69.112.9%10.2%6.9%5.9%5.2-36.6%-42.7%38.536.633.730.8130.4%26.122.016.718.5%9.6%9.4%8.4%-35.9%-39.8%12 100%309 50%206 0%103 -50%
100%50%0%02017 2018 2019 2020 2021 2022
-100%
02017 2018 2019 2020 2021 2022
-50% C2024220235|©2024C2024220235|©2024
A B C
2023ABC+2023ABC800700600500+55.3%400 +29.9%+55.3%30020010002019 2020 2021 2022 2023
0 200 400 600 800 1,000 1,200AB AB2024220236|©20242024220236|©20242023 20192019-202357,250.970 60 5057,250.960.1
40 30
20 10
02019
0% 20% 40% 60% 80% 100%28.8
22,286.3
202032.5
29,190.7
202125.3
20,444.0
2022亿元 48.9
49,100.0
2023
85.8% 元2019953.3774.138.9%47.9%899.32019953.3774.138.9%47.9%899.351.0% 54.0%808.135.6%42.1%1004.181.4%
60,000
50,000
40,000
30,000
20,000
10,000 0
0 250 500 750 1,000 1,2502019202422023PAGE7|202422023PAGE7|©202420192019140%119.1%112.8%119.1%112.8%119.0%109.4%94.5%103.2%98.7%104.1%87.2%86.8%88.6%79.0%83.4%100.7%101.5%105.6%107.7%75.3%77.0%70.1%73.9%68.0%72.6%94.9%66.8%53.5%50.9%69.9%78.6%74.8%60.7%73.1%58.6%56.7%59.9%65.6%60.7%42.8%31.6%56.3%36.7%31.2%44.0%39.2%44.2%50.6%35.1%19.3%100%80%60%40%20%0%2019 201920192019202422023PAGE8|202422023PAGE8|©202430 120%25 100%20 80%15 60%10 40%5 20%0 0%-52017 2018 2019 2020 2021 2022 2023
-20% 202422023PAGE9|202422023PAGE9|©202466.0%83.2%66.0%83.2%77.2%82.5%65.7%55.4%56.3%69.0%55.9%64.0%66.6%57.6%58.6%58.3%50.2%44.0%47.4%32.8%-6.8%80%60%40%20%0%2008200920102011201220132014201520162017201820192020202120222023202320232023-20%2008200920102011201220132014201520162017201820192020202120222023202320232023202310|©2024.202310|©2024.2023
202314%12.5%14%12.5%12%10%8%7.2%6%4%2%0%-0.2%-2%-4%-3.9%2020202120222023
43.8%26.3%15.9%
35.1%
15.8%
17.1%
30.0%25.8%10%
8.9%
3.9%3.2%
8.4%
3.0%
9.2%
9.1%
10.5%
16.1%
12.4%13.8%3.7%0%
5.1%
0.5%
-0.1%
2.9%
1.7%
4.6%6.5%8.0%4.8%
-16.4%
-2.1%-9.7%
-5.0%
-1.5%-4.0%-21.1%
-1.7%
-8.1%
-5.6%-8.4%
-14.1%
1.0%-6%220221-2-6%220221-234567891011121-234567891011122023
-22.7% 202420242023PAGE11|2023PAGE11|©20242.9%12.6%4.8%9.0%7.0%8.8%2.9%12.6%4.8%9.0%7.0%8.8%7.3%7.7%3.7%4.7%12.6%10.0%8.6%6.9%8.6%6.4%6.2%5.2%6.5%5.5%2.9%6.7%7.8%AABC0 5,000 10,000 15,000 20,00020242202422023PAGE12|2023PAGE12|©202420230102030405060708091011120102030405060708091011120102030405060708091011120102030405060708091011120102030405060708091011122019 2020 2021 2022 20230102030405060708091011120102030405060708091011120102030405060708091011120102030405060708091011120102030405060708091011122019 2020 2021 2022 202342,000 30%35,000 20%28,00021,000
10%0%14,000 -10%7,000 -20%0 -30%1 21-2202421 21-2202422023PAGE13|2023PAGE13|©20241-6%1-320231-6%1-320231-1220231-12%1-9%202320231-1220231-12%1-9%
2023
202312.910.6-6.1-7.811.2-0.6-6.8-7.912.811.1-3.9-6.710.515.202422024240%30%20%10%0%-10%-20%-30%202314|©20242019 740%30%20%10%0%-10%-20%-30%202314|©20242019 82019 92019 102019 112019 122020 1-22020 32020 42020 52020 62020 72020 82020 92020 102020 112020 122021 1-22021 32021 42021 52021 62021 72021 82021 92021 102021 112021 122022 1-22022 32022 42022 52022 62022 72022 82022 92022 102022 112022 122023 1-22023 32023 42023 52023 62023 72023 82023 92023 10202422023 11202422023 12202422023PAGE15|©202422023PAGE15|©2024WW80,0000
24.5%27.2%27.6%23.6%20.7%14.1%16.5%24.5%27.2%27.6%23.6%20.7%14.1%16.5%11.0%4.0%-0.8%
35%30%25%20%15%10%5%0%-5%
36%30%24%18%12%6%0%-6%-12%-18%
32.7%30.9%19.8%17.8%12.5%16.1%15.4% 10.0%32.7%30.9%19.8%17.8%12.5%16.1%15.4% 10.0%8.3%5.7%11.2%10.8%7.1%3.5%-15.1% 202422023PAGE16|©202422023PAGE16|©20241111112022 2023110% 2% 4% 6% 8% 10% 12% 14% 16%12,000 30%10,000 25%8,0006,0004,000
20%15%10%2,000 5%02020
2021
2022
0%2023
0 250 500 750 1,000 1,250 1,500 1,750 2,00020222022202320232022亿元 202422023PAGE17|©202422023PAGE17|©202442,000 20%36,000 15%30,000 10%24,000 5%18,000 0%12,000 -5%6,000 -10%02014
2015
2016
2017
2018
2019
2020
2021
2022
2023
-15% 202422023PAGE18|©202422023PAGE18|©20242019-202335%
30.2%
30.5%29.8%30%
28.2%
29.8%
24.6%
24.0%25%
23.4%23.4%
22.7%20%15%
13.3%
13.6%13.0%13.1%
11.7%
10.8%
10.8%10%
9.6%
10.1%
8.7%
8.6%8.8%
8.8%
9.2%
6.2%5.8%
5.5%
5.9%
5.8%5.9%5.6%5%
5.95.9%
5.7%
2.2%
2.4%0% 2019 2020 2021 2022 2023
2.4%
2.4%
2.6%80%60%40%20%0%-20%-40%202319|©201880%60%40%20%0%-20%-40%202319|©2019202420202024202120222023201820192020202120222023201820192020202120222023201820192020202120222023201820192020202120222023201820192020202120222023201820192020202120222023201820192020202120222023201820192020202120242202220242202320232023202321|©2024202321|©20242221 1,600+ 1.424A4GDP106GDP1061.511A C1.511-0.612.6%-1.4%3,038,000-0.612.6%-1.4%3,038,00049,277,000C 141,889,000 7,914,000 -1.0% 10.5% -0.7 A 44,657,000 2,559,000 -0.2% 7.4% -1.6 B 47,954,000 2,317,000 -1.3% 11.2% +0.1 202420242023PAGE22|©20242023PAGE22|©2024.220232A16,550,00015,023,0007,483,0005,601,000649,0001,152,000A16,550,00015,023,0007,483,0005,601,000649,0001,152,000286,000472,000-2.5%1.8%0.2%0.5%11.0%6.2%3.0%5.5%-1.3-2.6-0.0-1.5B11,644,0008,884,0008,847,0006,409,0006,281,0005,890,000473,000372,000259,000235,000585,000394,000-1.1%-1.4%-1.2%-0.9%-1.9%-1.9%12.3%15.2%13.0%3.6%9.7%10.5%-0.0-0.9+0.7-0.5+2.3+0.1C7,181,0006,988,0005,878,0005,045,0004,484,0004,335,0004,311,0004,161,0002,636,0002,473,000584,000673,000125,000383,00093,000410,00000100,000-1.5%-1.3%-2.3%0.8%-1.2%-1.7%-2.3%-0.4%-1.6%-2.0%11.2%18.4%8.8%10.5%13.0%13.6%14.9%11.8%14.0%6.4%-0.7-0.9-0.4+0.2-0.5-4.2+0.4+1.3-1.0-0.5+0.314.3%-2.3%316,0001,787,0002023202320242023PAGE23|2023PAGE23|©20242023
20191,600ABABC1,2008006004002002023202020232020
1,000
1,500 2,000
02013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023**20232023202422023PAGE24|©2023PAGE24|©20242023 2023C38.4%
2023791.4
A115.258.5115.258.558.447.347.241.039.438.337.235.525.923.512.510.09.3ABC28.631.667.364.92018B29.3%0 20 40 60 80 100 120 14020242202422023PAGE25|©2023PAGE25|©20242NewBlockCOCO2NewBlockCOCOTheBoxDT51ZXIINIFCX14.6%TheBoxDT51ZXIINIFCX14.6%6.8%42.4%6.5%57.6%6.3%6.1%2.5%&5.9%2.8%2.9%3.2%202420242023PAGE26|©20242023PAGE26|©2024.0.770.69 0.770.69 0.680.660.650.57210.500.03//0.560.550.510.510.490.470.460.45 0.420.420.350.330.33 0.300.240.80.70.60.50.40.30.20.10.020223 1 2 1 2022
4 2 2 AB C2023*202422023*202422023PAGE27|©2024.2023PAGE27|©2024.2722ABC2024 2024ABC0 20 40 60 80 100 120202420242023PAGE28|©2023PAGE28|©20242024-2026ABABC200150100502022024 2025 2026202420242023 2023-10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0%11.0%6.2%5.5%3.0%
15.2%13.0%12.3%10.5%
6.2%
13.0%
14.0%
18.4%9.7%3.6%*
18.4%14.9%14.3%14.0%
11.2%
11.8%
3.6%
8.8%13.6%13.0%* 11.8%11.2%10.5%8.8%* 6.4%
12.3%ABC14.9%
15.2%
13.0%10.5%
6.4%
14.3%10.5%11.0%9.7% 13.6%0% 10% 20% 30% 40% 50% 60% 70%
5.5%
3.0%2023
* 2023 2023
20242.29|© 2024.14%12%10%8%6%4%2%0%202330|©4Q0914%12%10%8%6%4%2%0%202330|©20241Q1020242Q103Q104Q101Q11.2Q11.3Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q142Q143Q144Q14A1Q15A2Q153Q154Q151Q162Q16B3Q16B4Q161Q172Q173Q174Q171Q18C2Q18C3Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q232024*2025*2026*202422027*20242202422023PAGE31|©202422023PAGE31|©20242024202420251,4001,200
16%14%12%
10%8%6%400 4%200 2%02005 2006
2008 2009
2011
2012
2014
2015
2016
2017
2018
2019
2020
2021
2022
0%2023 2024*2025*2026* 202422023PAGE32|©202422023PAGE32|©20243% 100%2%80%1%0% 60%-1%-2%
40%-3%-4%
20%3Q184Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q232024*2025*2026*2027*
0%2014201520162017201820192020202120221Q232Q233Q234Q23 202320232023PAGE34|©2023PAGE34|©2024ABABU𝑈2ABABABU𝑈2ABEE𝑈2ABxy2023PAGE35|©2023PAGE35|©2024“𝑨𝟏𝑩𝟏𝑨“𝑨𝟏𝑩𝟏𝑨𝟐𝑩𝟐𝑨𝟏𝑨𝟐𝒚𝟏𝒚𝟐𝑬𝟏𝑬𝟐𝒙𝟐𝒙𝟏𝑩𝟐𝑩𝟏20232.4202320232842018201826%𝑨𝟐𝑩𝟐𝑬𝟐2023PAGE36|©2023PAGE36|©20244,5003,000
~40%
~(1%)1,500
2018 2019 2020 2021 2022 2023E
18072023 2022 2021
2023 CHICPARKIDC2023 2.71 TechInsights2023 23.5% 51
2023
2019 114 3.3 3.3 2.9 2.720-22020 2021 2022 2023
30%15%0%-15%
2023 11 01
2019 11 01IDC202405IDC2024 222023PAGE37|©2023PAGE37|©2024ZZAB𝑬AB𝑬𝟐𝒙𝟏增长 𝒙𝟐𝑼𝟏 𝑼𝟐𝒚𝟏𝒚𝟐
𝑬𝟏
𝑬𝟐
𝑈1𝑈2𝒙𝟏 𝒙𝟐2023PAGE38|©2023PAGE38|©2024275%150%279%141%1.35797.32019201910 17241820231022275%150%279%141%1.35797.32019201910 17241820231022288,9576,876.99 2888,9576,876.99 28500503.20%100% 200% 300%2024+155.3%+9.4%+200.7%+5.6%2023 1-91200%1000%800%600%400%2023 1-91200%1000%800%600%400%200%0%1QYTD2QYTD3QYTD❖2023*202420232023iBrandi202422023PAGE40|©iBrandi202422023PAGE40|©202480 807060504030201001 2
4 5 6 7 8
1011
2 3 4 5 6 7 8 9101112 1
3 4 5
7 8
1011
2 3 4 5 6 7 8
7060504030201001011121211212022 2023 2022 2023121121202320232023202320222023202389483129399196-50.9%104837560632322-49.1%/0.90.60.40.50.630.62-3.6%iBrandi202422023PAGE41|©iBrandi202422023PAGE41|©20242023202220232120222023211259.5%1 2 3 45 620227 8 91011121 2 3 4 56 720238 910111220151050iBrandi202422023PAGE42|©iBrandi202422023PAGE42|©2024202310.5234202310.52343C/5.9%58.4%6.2%7.1%8.1%8.7%3C/5.9%58.4%6.2%7.1%8.1%8.7%21.7%21.7%202422023PAGE43|©202422023PAGE43|©202420232023202321791.72.3%2023202321791.72.3%20202023211.020232023REITsREITs2023
仲量联行版权所有2023PAGE47|©2023PAGE47|©20242010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* 2025* 2026*2010202422010202422023PAGE48|©2023PAGE48|©202420232023 TOP10-20.0% -16.0% -12.0% -8.0% -4.0% 0.0% 4.0%15.5%15.5%-5.6%13.5%-1.3%12.2%-3.1%8.7%-1.5%5.9%-1.3%4.9%-2.1%3.4%-0.1%3.0%1.7%2.0%0.6%1.7%0.2%0% 10% 20% 30% 40% 50% 60%2023
2021Q42022Q12022Q22022Q32022Q42023Q12023Q22023Q32023Q4
18%3.0%-1.3%3.0%-1.3%12%9%6%3%0%-3%-6%-9%2023202422023202422024220231120242202309202320230720232023052023032023012022112022092022072022052022032022012021112021092021072021052021032021012020112020092020072020051002020031002020012019111002019091002019072019050-2001002019030-2001002019012018112018092018072024201805202420180314013012011010090802023491401301201101009080202349|©2023PAGE50|2023PAGE50|©20242024+20242024+20242202422023PAGE51|2023PAGE51|©20245%3%9%43%12%REITs13%15%REITs2023 3 24REITs5%3%9%43%12%REITs13%15%REITs2023 3 24REITsREITsREITsREITREITREITREIT REITREITREITsREITsREITREITREITREITREITsREITREITREITREIT301,186.7144,125.8102,741.677,894.381.539.610.710.02023 *98.8%98.1%98.4%88.7%2023*50,241.616,341.35,770.13,377.669.235.810.910.0*1-9*1-9REITs1-6REITs202422023PAGE52|2023PAGE52|©2024REITs REITs4.4%4.3%4.3%4.4%4.3%4.3%4.3%5.4%5.3%4.8%4.7%4.6%4.6%4.5%4.5%3.6%4.8%4.3%3.7%6.7%4.9%4.9%4.8%6.7%4.8%4.9%6.0%5.0%4.0%0.0% 2.0%
6.0%
8.0%
3.0% REITsREITs2024REITs2023202422023PAGE54|©2023PAGE54|©202422•/ +……18•/ +……18++IP•3.2·72.7AIM15•••••20242023PAGE55|©2023PAGE55|©2024外部因素 供给迭代
市场因素2023PAGE56|©2023PAGE56|©202420242//////20242//////////THEBOX2023202320222023THEBOX2023202320222023• •WAVEBOX2023 19032015 2023WAVEBOX202319032015202320232023PAGE57|©2023PAGE57|©202412.6%13.0%16.1%3.3%12.6%13.0%16.1%3.3%3.1%4.3%AB
2023*26.3%*26.3%8.8%8.4%20237.5%26.3%35%20224.9%
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 二零二五年度全国电子产品区域独家代理合同
- 二零二五年度旅游行业品牌授权合作协议模板
- 夫妻投资店铺合同范本
- 2025年度辣椒种植基地租赁与产品收购服务合同
- 二零二五年度房地产项目资金监管协议书
- 二零二五年度智慧城市建设项目增资扩股合同
- 针对酒店住宿的2025年度服务质量保障与免责协议
- 二零二五年度高空作业塔吊安装与拆除合作协议
- 河北省二零二五年度租赁合同范本:仓储租赁
- 2025年中国汽车木地板市场调查研究报告
- JJF 2210-2025取水计量数据质量控制技术规范
- (一模)日照市2022级(2025届)高三校际联合考试历史试卷
- 国际贸易地理 全套课件
- DB32-T 3129-2016适合机械化作业的单体钢架塑料大棚 技术规范-(高清现行)
- 道路交通事故责任认定行政复议申请书范例
- 郑州大学图书馆平立剖面效果图
- 高效液相含量测定计算公式
- 公安机关通用告知书模板
- 《小学数学课程与教学》教学大纲
- 《手机摄影》全套课件(完整版)
- 矿井无计划停电停风安全技术措施
评论
0/150
提交评论