Category: Money tips Release Date: 2006-03-10
Source: China Securities Journal Author: Galaxy Securities
Exhibition business development prospects of the company first emerged, the future will become a stable source of income. The company began to enter the real estate field. With the fundamentals thoroughly changed, its performance is expected to maintain a sustained growth. In addition, the Wuhan Yangtze River as a trade center, real estate appreciation potential, after a sharp rise in recent years, property prices in Wuhan, its revaluation is likely to double the company's net asset value. Technically, the stock heavy volume attack, a strong market outlook is expected to Tian Quan.
Historical Information: G-Han providers (600,774): to open up space for active interest in the July 19, 2006
Source: World Bank-based investment
Su Liang tape rebound, market confidence has not yet been fully restored, afternoon may also occur repeatedly, but the degree of today's intraday stocks rebound activity, in particular, be the first to start the business reorganization of shares, the daily limit at G 100 led by China, G Hanshang, G utility, G 900 and other commercial stocks rose one after another heavy volume, and tape down the process once the performance of robust rebound is likely to become a pioneer. In particular there is a substantial potential for growth performance and get transferred to a high proportion of G-Hanshang.
Government to support the central exhibition industry explorers G Hanshang (600,774): The company is a rare Wuhan, commerce and trade, exhibition, real estate industry, three simultaneous, simultaneous development of the listed companies. After two years of industrial restructuring, the company's business from the traditional department store retail industry transition to a modern business services, and gradually increase profitability. The company owned Wuhan International Convention and Exhibition Center, is and exhibitions, conferences, parking lots, information exchange, trade negotiations, indoor and outdoor plaza, shopping center, and foreign service center functions into one. Wuhan political, economic, cultural and technological, business activities and information exchange center, is holding various types of international and domestic exhibitions, conferences, events and receiving foreign guests the best place. The initial operational phase at the Convention Center, the company also received 30 million the government's financial subsidies in the future also expected to receive subsidies, is expected to rise as the central strategy for the promotion of Wuhan's economic strength, influence, promotion, convention and exhibition industry will usher in a larger development opportunities for the company a steady income. Seventh China International Automotive Industry Exhibition will be held in September in Wuhan International Convention and Exhibition Center, Wuhan International Convention and Exhibition Center will increase the profitability of this year.
Real Estate cutting-edge macro-control this year, a blessing in disguise China's macro-control is directed at the real estate industry. But there are some advantages of real estate enterprises, the macro-control but is conducive to improving their industrial concentration, accelerate development, Vanke Group, plans to float times of adversity is still sought after by the market. G-han real estate business, although new army, but its real estate to affordable housing projects are mainly carried out by the State Council regulation on real estate in six countries to accelerate the building of urban low-rent housing system to encourage the development of the room is the only real estate projects, so G Hanshang real estate business from the impact of macroeconomic regulation and control. The company has developed in Zhengzhou city, covers an area of 258 acres of city park of Han Fei, the recent letter to the company-owned Wuhan Jun Co., Ltd. has begun construction of home buyers with affordable housing, including four brick factory in Wuhan Golden mouth real estate projects, The project cost of land in order to further the construction of some affordable housing satisfaction, the need for capital-intensive real estate development, this approach would undoubtedly help to reduce development costs. Vanke Group has been coveted by rumors of gold mouth project, before the Government had Hanshang Group after the transfer of 200 million yuan asking price as the transfer of the post, we can see the development potential of the project. Expects profit of real estate projects in 2006 of not less than 12 million yuan.
Enhance the valuation of hidden assets of a huge company has a large number of fixed assets, mainly land, reserves and available for rental property, the company access to these assets, lower costs, and only the price of land lots under the same estimate the market value of 10%. Han Commercial Group's principal place of business Hanyang malls, hotels away from the bosom friend of Qintai under construction less than 1 km away from the Grand Theater, Chinese business in the 21st century shopping center covers an area of 50,000 square meters, Wuhan International Convention and Exhibition Center to be developed around the land near the 70000 square meters, the current book value of the property is only one-tenth of the real value of the current, future appreciation potential. Company is also the largest city of the Yangtze River wharf Pro ─ ─ Yang Si-Hong Kong's waterfront, has 12,000 square meters of land, at present only developed as warehouse, Yang Si-Hui Wing Mau, Hong Kong land adjacent to the heavily developed by Shimao Group parrot Island project, but also the future of Hanyang, Wuhan - Wuchang cross-river tunnels are most likely to export, transport hub, will allow the land appreciation potential. The latest development of Hanyang golden mouth four brick project, covers an area of 2.35 hectares. However, the cost of the land is 2.6 billion yuan, while the assessed value of the land premium of nearly 10 billion yuan, according to the new fair value accounting standards, the company's current land bank can enhance the net asset per share, nearly 10 per hour.
The low proportion of large shareholding stake in a simmering battle the recent restructuring of Wuhan, the business unit frequently Zhejiang Intime E Wushang was raised placards, Wuhan Zhongnan Commercial the overall transfer appliance stores, Wuhanzhongbai stock change due to the lower proportion of large shareholding transaction transaction appears very likely to occur stake in the battle. Wuhan Commercial Maneuvering the pattern, smoke everywhere, and participants are many changes shares after the first major shareholders equity ratio reduced to 21.68%, can not ensure the right to acquire a controlling party, it plans to buy a business group of the Han within the foreign commercial giants likely in a variety of means and have acquired major shareholding acquired in the secondary market at the same time as part of a bargaining chip to improve the equity ratio, since G Hanshang exhibition and real estate are the factors that government support, the city government does not want to because of Han led to loss of business ownership that the loss of state-owned assets, possibly through secondary market holdings to ensure that the controlling stake, which will also reminders l company's share price.
Performance of high growth and high power grab Zhuanzeng Quotes successfully detonated after the transformation in 2005 earnings per share 0.26 yuan in the first quarter this year, up to 0.237 yuan per share, excluding non-recurring gains and losses are expected in the first half of this year earnings per share 0.30 yuan. Despite the company's financial subsidies to income is an important source of growth performance. However, in Wuhan International Convention and Exhibition Center is a government project, and has been in the construction period, in Wuhan International Convention and Exhibition Center, Wuhan municipal government before a profit will always be given, where appropriate, financial subsidies, the subsidies to the company's earnings contribution to the performance and future earnings after the company's new projects a considerable contribution, will not lead to fluctuations in company performance. We expect G Hanshang in 2006 and 2007 EPS of 0.45 and 0.60, respectively, in the land value after the revaluation of the PB is only 0.69 times the company's stock price has been significantly undervalued. Unit Net assets per share 4.02 yuan per share of undistributed profits 0.75 yuan per share, capital fund of up to 1.79 yuan, with high transfer capacity to send, the company has made no less than 10 Zhuanzeng 6 of the allocation scheme, as far as we know is possible up to 10 Zhuanzeng 10. This will directly lead to the secondary market, grab the right of Quotes. After the unit after the share reform after repeated shocks Xipan Backed by over 20-day moving average volatility rose to a moderate amount of amplification, the early break in the innovation of high transaction-intensive areas, the stock hit a new high today, once again heavy volume, open up space, investors can take an active interest .
