Category: Money tips Release Date: 2006-12-26
Let me talk about a joke, Ji Xiaolan youth palace, wearing cotton-padded clothes are holding paper fan, just an old eunuch to send books, the old eunuch to use in the hands of "Spring and Autumn", pointing Ji Xiaolan ridicule Road:
Small student to the winter, take the summer fan, this "Spring and Autumn" can not read?
It was very tricky out of the joint spring, summer and autumn and winter are all homogeneous, and bad right; but Ji Xiaolan right out of the second line is more tricky:
The old eunuch, raw southern, to the North, that "something" still do?
West, south of the spring, summer autumn and winter, by the way the old eunuch about thorns, but the mouth is too Yin Sun mean, not kindness.
Recently, I read a study a listed company such number of stock analysts and research reports:
"With Shanghai's Pudong International Airport, south gate of 400 acres, north of Shanghai Railway Station Square, 16 acres of land, these are prime locations convenient transportation industries, these two sites are the company's early years at relatively low purchase price, in the past a few years, driven by hot real estate market, land prices rise considerable capital appreciation potential. In addition, the company has invested heavily in the early transferee Lo Wu to Hong Kong Shanghai Nanhui District, 1100 acres of land, access to the country 66 million yuan compensation, as the Yangshan deep-water Hong Kong completed, the company will be accompanied by the development of the port access to rich land premium revenue. "
For 2007, 2008, to 0.5 yuan, 1.0 yuan EPS, I do not care, but the enterprise of the land assets would be delighted some interest, which is a total share capital of 320 million, market value 9 yuan business, meaning that its total market value of was 2.88 billion, let us calculate the price of land:
A total of 416 acres of land in urban areas, combined 277.4 thousand square meters, how the land prices in Shanghai have 10,000 yuan per square meter, right? That is 2.774 billion yuan; Lo Wu to Hong Kong 1100 acres combined 733.7 thousand square meters, a thousand dollars per square meter count, that is 734 million, well, only the land was 3.508 billion yuan, it is not corporate-owned real estate projects, logistics center, in other words this enterprise is far greater than the market value of the assets, and may be able to say that this unit has a clear margin of safety. Even if the performance is not good, but the property is really playing a real hit.
Considered here can not help but Xinxin Ran a happy expression, wait a minute, or to the listed company to verify that a few places in the end what is the land? Agricultural land, industrial land, commercial land? This price may be quite differentå‘€! Then dial the phone listed companies:
"Hello, may I ask your company in the Pudong airport, where 400 acres of ... ..."
"Oh, sold, and it was agricultural land"
"That, Shanghai Station, North Plaza, 16 acres of ... ..."
"Was sold"
"Lo Wu to Hong Kong 1100 mu ... ..."
"Sold, and were all sold as early as the"
Wow, people put a wild boast their own considered as flowers, on so did not it? But I read the stock analysts are not one, but quite a few ah, how is this so?
Fortunately, hard working, a bit, I called telephone.
This thing that happens quite interesting, it also brings lot of thought:
First, some stock analysts, research reports are not detailed research, or simply did not read the information completely, we assume, incorrectly relay erroneous messages, or the world is a big copy the article, radish faster does not wash mud.
Analysts do not totally blame the objective, take a look at the company announcement, the number of land sales are all right too, there are also announced in good time, but the discrepancy right place, like what? Seems to pool at Qinghua Guo Degang graduation, people will say this is Hu Fangqiao there, he said Huguang Assembly Hall right off of non-fact in one place. But analysts ignored, perhaps not familiar with Shanghai's geographical reasons.
Secondly, we should detail some of their own, not sure of to verify the require permits listed companies to call to give advice. Originally, I chose this unit because it is 1500 acres of land, but, "that thing" is gone! Since gone, it would only count what the stock?
Tao Yuan-ming said, "Good reading, without understanding that each time knowing they forgot to eat with pleasure," but we do have to put horns Garak investments are clear, with superficial understanding is not enough, we must carefully studied in the end, things still do?
