Category: Money Tips Date: 2006-01-21
The company's total assets and net assets of listed companies are the business class first, is the commercial retail industry, leading enterprises, has 14 Department Stores (Eastern Villas, Yaohan, Hualian Business Building, etc.), 1 Outlets (Qingpu Outlet), a shopping center (Wujiaochang Festival Walk), asset quality, profitability and good, we give its "overweight" investment rating.
Business area continued to increase: With the success of the company Outlets discount brand management, Wujiaochang Festival Walk shopping mall (area of 12 square meters), Shanghai Brilliance Shimao International Plaza, 2 (4 million square meters), 100 Mall (an area of 40000 square meters), Changsha, 100 Union commercial and Ningbo Dongfang Orient the continuous opening of commercial, corporate sales and profits will continue to a new level.
Asset Injection Expected: a major shareholder in the core Yetai Bailian will focus on department stores, shopping centers and stores 3, respectively, of "the East Shopping Center", "100 Union", "Lianhua" brand-based fighting. Among them, the East is the company's commercial has been a major department store chains. We expect that the Group will be the company as a development platform for department stores, one after another into the business assets, the company's future growth potential.
Mall will be the focus of the company's future development direction: The company is now the Yetai main traditional department stores, shopping centers, as companies are trying to focus on the future development of. The company's Shanghai Outlets Brand discount operation significantly beyond our expectations; Wujiaochang Festival Walk shopping mall will be put into operation in early 2007; under construction, there are 100 shopping mall, is expected to start operating in 2008. Corporate group's assets, there are some shopping centers are expected to gradually integrate into the will.
Commercial real estate revaluation great: In addition to joint the WTO as a 100 leased properties, the other operating properties are owned, operated an area of about 70 million square meters, and both are in prime business district of Shanghai, the potential revaluation of assets compared with Great.
