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Data:2009-12-12 2:34
Source: and News
Shares of oscillation higher transaction reasons:
Tian Yan Changjiang Securities, said the Institute, a conservative calculation of Shen Changcheng A revaluation of the net asset value per share to 13.69 yuan; even removed to adopt a more conservative method of calculating value-added hotel assets, the company revalued net asset value per share will reach 12 yuan . The current stock price a serious underestimate, given "strongly recommended" rating.
Investment Highlights:
1, the successful completion of employee-owned construction enterprises restructuring, successfully stripping the Golden congregation, the more public two construction enterprises, the company further improve asset quality.
2, Land Bank achieved a major breakthrough year in Shenzhen, Chengdu, Shanghai, four new projects, broke through the troubled company's development has been the "land resource bottlenecks," basically three years to meet the company's future development requirements.
3, after integration, to achieve the company's internal management of the flat, pay the market-oriented functional orientation of the completion of the company's business model from direct management control to the type of transformation into a preliminarily set up a market-oriented human resources management system.
Risk Tip:
1, the real estate competition, increased cost of land acquisition and development to reduce profit margins.
2, the company financing means more single, mainly rely on bank loans, so that occurred at a higher financial cost, to a certain extent, affected the company's business performance.
Investment advice:
As the real estate section of the company in Shenzhen, the comparative advantage of enterprises, proposes a focus on attention. The first target bit 11 yuan.
Related sections:
Real Estate section
