Hong Kong person most has economic foresight to know that the person of Hong Kong now goes where buy building? Taipei buies building. Taipei building price now does economic depression in disorder because Afghan is flat, the person of Hong Kong values Democratic Progressive Party this the president election steps down two bank three direct links (trade, post and air/ship) across the Straitses can stimulate Taiwan economic development. So Wu lose the person of Hong Kong have gone to Taipei to buy management for infrastructure , wait for Afghan is flat to step down , Taiwan economy enters another taking off.
The stock of lucky star belongs to real estate and metal product profession. Get macro-control to fall recently is greater( biggest fall 40%) but basic surface foundation has not changed , on the contrary, directional good direction develops ( know from recent announcement). According to broad hair, bond profit is foreseen: 7 8 for 9 years parting is: 0. The / share and 0 of 66 Yuan. The / share and 1 of 94 Yuan. The / share of 4 Yuan. In correspondence with city wining rate is: 24. 4 times and 17. 1 times and 11. 5 times. Growth rate is the future complex of 2 years: 45%. Recently, succession gets Wuhan unexpectedly , shout city" the village in city" place, reserve plenty of lands( raw material has guarantee) for the future company's great development of 3 years. Will increase in October 7 to send 1. 800 million have appeared in the newspaper , etc. can implement. Increase to send price 15. The share of 5 /. Raise 2800 million( fund has guarantee). 6 years have implemented stock right encouragement mechanism 7600 thousand. Condition: 7 for 8 years, net profit increases 30% more , the net asset 10% of earning rate above. ( high growth has guarantee).
Settle to discuss:
In the past, the big act of 4 months increases land reserve and change company abbreviates and the stock of lucky star of main business( 926), with temporary announcement way announcing that company has intervened prospect the city land valued very much is first class to develop field.
A announcement that signs on January 11 according to company, the stock of lucky star nearly whole capital the subsidiary that controls share lucky star kindness reputation, shout recently with Hohhot municipal government city jade spring district fishes culture pool flat district" the village in city" 3000 mu land developments project the agreement that reaches. Analysis shows , the land first class development that this project follows the soft lifetime stock before pattern and this( 609) compares to have generality , it is the land first class development that enterprise participates in local government with pad owner type , and is when after cooperative project land starts the business openly to auction get corresponding development profit. What place is different is that the stock of lucky star seemingly works except not participate in specific development besides pad capital, government promises complete cooperative project all lands in 18 months after enterprise first issue is invested in take apart to move to settle compensation. What worth-while one is mentioned is that this equal difference different seem will not for lucky star stock when the expected profit among this land first class development forms negative influence.
As specific project profit way, though announcement name the stock of lucky star may Jing the land auction that racket personal participation carries out afterwards, and when after Jing racket success so as beforehand pay for others fund rush to compensate for corresponding conclude amount of money, but also stipulate clearly, company may select when shout municipal government returns pad money completely outside, conclude price according to auction to make the / mu of 880 thousand Yuan( start the business upset price) high the 50% of above increment part gets the profit of joint development. Divide proportion only for this profit to see , the stock of lucky star has seemingly gotten not inferior soft lifetime stock in Chengdu project cooperative condition.
According to me, judge , make above-mentioned selectivity profit arrangement , have two purposes approximately, one is when land auction result is not enough to manage sexual condition takes off ensure the kindness reputation of lucky star when 2 following level developments link gets profit, 2 is when promise the kindness reputation of lucky star participation Jing the condition of racket takes off strive for a more ideal auction result. No doubt, the essence of this stock business of lucky star lies in that for shareholder, creation is larger to worth , if land is auction, result is ideal, the profit way estimate of last choice is the latter.
What deserve to be noticed is that even if no this land first class development project cooperation, the achievement of the stock of lucky star of 2008 years expectation is also pretty good( besides real estate, company's original main business the achievement prospect of meridian tyre steel curtain line also very much values ), this also is I last week borrows " manage money weekly " to express the reason of valuing the 3 stock etc. line share prospects of lucky star of real estate by oneself. As far as land first class development cycle is concerned, it is shorter relatively, not remove above-mentioned project to start the business for the first time the 600 mu land profits of auction when the possibility of the realization of 2008 years.
As to the stock of lucky star actually can when in above-mentioned land first class development project obtains more less profit, if not make accident, I see , depend on two factors mainly, one is program volume rate, 2 shouts the present price level of the commercial house of city. This obvious needs do further research.
Point is made clear very much, shout city
Is natural, the stock of lucky star intervention the market meaning of larger land first class development, lying in have proved that local government really needs more social fund to help them to carry out land first class development , have also strengthened soft lifetime stock from this when land first class development the tap position among board piece.
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