Category: Money tips Release Date: 2006-01-11
Source: Bo Star Investments Authors: Zhu Huiling
The company's leased properties mainly located in Jinqiao export processing zone, which is the only "export processing" named after the state-level development zones, is the most advanced smoke-free industrial zone and the perfect combination of modern international community. 2005 annual report, the company leased the property's carrying costs 3.053 billion yuan, year-end fair assessment of the value of 6.347 billion yuan, a premium of 1.08 times, reaching 3.294 billion yuan. Rental property assessment is only a premium, you can bring about an increase in asset values per share 3.90 yuan, while the company's total assets, accounting for 64% of rental property, inventory accounting for 30%. Inventory of land and construction-mainly the same outstanding appreciation potential.
The secondary market, the stock bottomed out at 3.73 yuan in July last year, bottomed out after the stock started restorative rally over the past year has been on an upward path to run. Recent market wide shocks, the yuan continues to appreciate the concept of unit strength, short-term stock with a strong shock moving average 30 days to digest the pressure, the disk plate moves upwards try more frequent afternoon if it can effectively enlarge the amount of co-ordination unit is expected to re - continued upward trend, investors may pay close attention.
Historical Information: G Golden Bridge (600,639): the medium-term industry, significant growth will occur, the future growth a good August 24, 2006
Source: East China Sea stock
After raising interest rates in the domestic currency hit a new high, the global capital of RMB assets pursuit also went to the crazy stage, the domestic real estate appreciation in the first when one became the biggest beneficiary. 600639 G Shanghai Jinqiao as a veteran real estate classes listed companies, the strength is quite prominent, for revenue growth. The company is a major shareholder of Orient Securities, financial themes prominent, worthy of close attention.
More than a new concept of a local broker
From the company's annual report for 2005 we can see, the company holds 3.73% stake in Orient Securities, opening a total investment of 81.9 million yuan. At the same time, the company also holds a 0.03% Bank of Communications, 0.21% Guotai Junan, Hai Tong Securities 0.31% stake in Shanghai is more typical of local financial stocks, the financial topics worthy of excavation.
Leasing will become the mainstream of real estate investment, although the overall housing prices will continue to rise, with land prices rising at a faster pace, investors will be increasingly concerned about the company's gross profit margin real estate development category to narrow the problem, and the type of rental property company can fully enjoy the result of rising prices of capital gains and to minimize or deferred sales tax, land value-added tax and income tax, so the real estate equity investment has begun to enter the second stage, the tenant-based company will gradually replace the development of the class Investors prefer companies to become mainstream. The 600639G Jinqiao high value-added, high-growth market attention received by the leasing business. Pudong Jinqiao Industrial Zone in Shanghai, one of the most important demand, strong growth by the Shanghai Industrial property rents and sales prices. Jinqiao plant is currently rents more than 1.00 yuan / square meter / day, compared to the major focus of the National Development Zone, Jinqiao Export Processing Zone in the average price of rent and land lease are the national leading level. The other major development zone in Shanghai than at a lower level. Currently, the company rented out plant and storage area of up to 80 million square meters, the occupancy rate is expected to exceed 75%. Expected to the end of 2007, plant and storage of the lettable area of over 90 million square meters. With the demand growth and further tightening of land supply, rental levels and occupancy rates continue upward trend will be maintained. In addition to the land, plant and warehouse rental, the company there are about 40 million square meters of residential, office, commercial space rental, primarily in companies focused on the development of the Pik international community. In general, as the Shanghai's overall economic status has been further enhanced, the high-tech development zones are also increasing the attractiveness of the manufacturing sector, but also the company faced a better market environment.
The most favorable tax policies to help long-term development
Leasing is the most important property tax revenue is generally a tax-funded enterprises within the standards: The rental income for 12% of total revenue. For many years, Jinqiao export processing zones, real estate tax has been in a state of remission. The level of the company's profit margins have been greatly improved. Company's property in order to live based mainly with the high-end commercial real estate compared to the high cost of routine maintenance operations. Property tax concessions, making a substantial increase in the level of the company's gross margin completely make up for the above deficiencies. In addition, the Pudong New Area, only 15% of the income tax rate, but also greatly improved the company's net profit margin.
Foreign investors are still bullish on the domestic real estate, Morgan Stanley announced last week that in 2006, the total investment in Chinese real estate will be an additional three times, investment will increase by 30 billion dollars, at the same time, Goldman Sachs, Merrill Lynch and JP Morgan have also overweight Chinese real estate investment. In the second stage of the real estate stock investment, property rental type of company will gradually replace the company developed a class to become investors in the mainstream of preferences there is reason to believe that an operating lease business, 600639 G Golden Bridge will attract more long-term investors of the eye, Investors are advised to bargain-hunting interest.
Finance + performance growth, it is worth looking forward to
Company as a local financial stocks, in 2006 the industry will be a noticeable increase in the medium-term, future growth well, as a veteran leader of the Shanghai Pudong locally, once Zhangsheng consecutive pulled, it is worth investors to pay close attention to.
