First Shanghai Longhu real estate to buy rating-k9084

Shanghai: Longhu real estate first maintain buy rating hot column capital flows thousands of thousands of stocks the latest Rating Rating diagnosis simulated trading client sina finance App: Live on-line blogger to tutor Sina Hong Kong APP: real time market exclusive reference stocks also worth the investment? What’s the problem? Where is the future of the way out? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. The medium-term performance is good, the investment property over the expected performance of the period, the company achieved revenue 18 billion 370 million yuan (below), an increase of 9.4%, gross margin of 28%, an increase of one percentage point in the cost of sales rate and the interests of minority shareholders has increased the proportion of cases, the attribution of shareholders’ core profit rate remained stable at 13% (slightly fell 0.21 percentage points), attributable to shareholders of the core profit increased by 7.7% year-on-year to 2 billion 400 million yuan. During the period, the investment performance exceeded expectations, rental income grew by 34%, revenue contribution of nearly 5% (same period last year was $3.9%), gross margin increased by 3 percentage points to 74%. To improve the debt structure, strengthen cooperation and development, the ability to enhance the anti risk period, debt structure continued to improve, the average maturity of longer; lower financing costs; foreign currency liabilities accounted for less; in mid August, Moodie Ba1, will rise to positive rating outlook. At the same time, a fiery excessive land market at present, the company added more land reserve to choose cooperation with the way to reduce the burden of funding and single project risk (the first half of the total investment will be cooperation with a single project limited to about 2 billion yuan). We identification with company cautious development, defensive strategy, while the company’s rapid growth in rental income, that the company has a strong risk in the industry is less than the ability. The annual transfer is rich in resources, the gross margin is expected to continue to improve according to the progress of the company’s engineering project, 2H2016 is expected to have about 350 thousand -40 million square meters of project can be completed, expected product structure and transfer price has little difference with the first half, up to 10%-15% annual growth in sales revenue and total property income; with 1H2016 years of sales contract will start at 2016. Turn, and rental income increase, we expect the company’s gross margin will be extended to 17 years. Reduction of shareholders does not change the fundamental advantage of the reduction is smaller (less than 3%), the price discount rate is less, and he is currently not members of the company management, this event does not affect our perception of the fundamentals of the company; in addition, the company increased the public ownership of this event to a certain extent, improve liquidity. Target price of HK $15.9, maintaining a buy rating based on the company’s ability to resist risks is better than the industry, as well as a more clear growth prospects, we give the company NAV per share discount of 20%相关的主题文章: