Category: Money tips Release Date: 2006-01-25
Finance Street (000402 market, information, advice, more): Tian Quan is imperative Quotes
During the suspension period in the Financial Street, and other real estate stocks soared emerged market, which means that compensatory growth occurs after resumption Quotes Financial Street is essential. Correspond to other real estate stocks, Finance Street In addition to growth more significantly, the Olympic Games and Jinbin development zones, the project is more abundant reserves and other advantages, will also be the first to 05 after the disclosure of year-end annual report of the distribution companies. Therefore undervalued stock price continued to show the case of the Unit at the end phase of the Ex-stock reform followed by the formation of year-end distribution of the compound ex ex to current stock price, the stock composite diluted share will be reduced theoretically to 6.59 yuan, according to agency depth study in 2006 forecast performance, price-earnings ratio will be reduced to less than 11 times, its Tianquan Quotes and Tianquan the space will be obvious.
500) this.width = 500 'align =' center 'hspace = 10 vspace = 10>
Pre-review:
G-focused research on the period of China Merchants Bank, the secondary market performance is not ideal, but the agency generally agreed that the stock texture excellent, good future growth cause for concern.
Current points:
China Merchants Securities --
Beijing Financial Street area due to the development of the basic properties built in 2006, and most will enter the settlement, expected in 2006 will see a significant increase in performance.
acquisition of Beijing Desheng project land reserves and is prepared to increase investment in Tianjin, investment, such strategies can be better combined with the company's strengths, so optimistic about the company's future growth potential.
As the Beijing Olympics approaching and the construction of Tianjin Binhai New Area, in particular, long-term appreciation of the yuan, with the trend more clearly, the company holds substantial shares in the investment real estate properties will benefit from the great.
Introduces share reform program, will be staged Tianquan market, the company had earnings and revaluation of net assets (NAV) with a comprehensive valuation of the company's value should be 12.98 yuan central (non-including rights).
CITIC Securities --
Finance Street within the development business in the harvest period, to maintain its high growth 06,07. Now, there are 422 thousand square meters of properties for sale will be mainly settled in the 06,07 two years, the estimated total revenues of more than 7.0 billion.
Have implemented a new project in 2005, 08,09 years, the guarantee of performance, the company prospects worry-free.
Financial Street in 2006 nearly 600 thousand square meters within the leased properties will be fully put into use, the normal rental income will reach 0.5 yuan / share. The current price estimates, Financial Street valuation of 14.18 yuan, coupled with reform is expected to get 2.1 shares of stock, reasonable price should be 17.16 yuan, with housing prices and growing business, the company valuation will be increased.
Shenyin --
Expects real estate development business in 2006 will reach its peak stages, the total revenue by more than 30 billion yuan, an annual growth rate 61%. Expects 2006 net profit of more than 610 million yuan, the annual growth rate of 51%.
Comprehensive earnings ratio and RNAV valuation, the company's reasonable price at 12.6 yuan or so, taking into account the share reform 10 to send the right price of 2.1, compared with the current stock price is still room for growth.
Depth report on the authority of restricted reference materials from the "Securities Link"
