[scroll] SFC

South building: grow with the city three or four lines to outperform rating Investment real estate long term driver of the changing market towards three or four cities. United States transfer brings the experience industry dominated the region between population gathering and wealth effects of changes in the real estate market trends. Leading developers continue to sink into a two or three-tier cities. Domestic urban built-up area to a halt, three or four lines higher availability of urban land resourcePotential uncertainty. Price contradictions brought about long-term regulation, market structure changes. Represented developer vanke poly evergrande city into three or four lines. South building focused on three or four lines in the city, relying on the exploration of construction industry-wide chain. Company from the initial project development and construction, the ongoing exploration of large construction real estate industry-wide chain. Current scope of business from the urban rail transit (Group business), Developed at the land level, real estate, construction click here, a surname, the repair decoration (Group) to self-property business. Leverage the cost difference, the company focuses on operating lever can be increased, the premium payment flexibility to land three or four cities with a lever, constraint based on resource endowments, companies out of the one surrounded by a rural City Road. FengRich low land cost and competitive advantage. The end of 2011 view my site here, 11.6 million m2 of companies having an interest in clearing of land reserves, reserves of 10.5 million m2 of land available in interest (supporting business accounted for about 24%), meeting the company 5 years development. Land reserves in 70% in three or four cities in Jiangsu Province, low land costs, currently integrated land costFor about $ 1100/square meter, 13% per cent of 2011 average sales. Contractors developers into the transition, the company also has a natural advantage in cost and quality control. Business secondary transition from "shop in front" to "urban operators", profit and then upgrade. Company is gradually trying to industry consolidation of resources, urban operationsChange, extend the chain of profit. Transition from low-end construction link to premium finance links, from ordinary residential development to the commercial complex, and is the company's core business model, and will drive growth in the company's long-term value. Currently operating in Nantong comprehensive operational projects of century city is the first city in the South, 5 future plans urban complex projects: Nantong, Yancheng, Nanchong, DanzhouAnd haimen. Profit forecasts we forecast the company 2012-2013 for $ 1.12 EPS respectively, $ 1.44, PE and 12X respectively, calculation of NAV $ 17.33/shares of the company, its current price discount 21%, outperform rating. Risk tips real estate adjustment and do not relax, is likely to continue to increase company sales pressure.[Scroll] monitor display: since the beginning of June, pork prices rose in the northeast (06-08) [scroll] since the beginning of June, pork prices rose in the northeast (06-08) [scroll] Central Bank rate cut Bank scroll fell to 6.28 times times forward earnings (06-08) [Scroll] Korea Eximbank urges North Korea to repay loans for food (06-08) [scroll] CDB 109.5 billion in new affordable housing lending last year than hyper-60% (06-08) [scroll] Beijing double Celestial Street longhu May sign $ 3.35 billion revenues exceeded 1 billion (06-08) [scroll] sinolink securities: focus on rating Fund fixed income characteristics (06-08) [scroll] Sinopec: rumors untrue Company Secretary of the General monthly salary of 30,000 (06-08) [scroll] experts are expected in the future in oil prices back to 7 times as much downside were more likely (06-08) [scroll] United States Honorary Chairman of the APEC Centre: China's economy will speed up again next year (06-08) [scroll] interpretation of fund interest rate cuts: enter easing cycle in China a-shares are expected to rebound (06-08) [scroll] Germany's Central Bank raised its 2012 forecast for GDP growth andExpected inflation rate (06-08) [scroll] HSBC: cutting interest rates bullish correction still needs some time (06-08) [scroll] Li Daxiao: oil prices down to benefit transportation stocks good (06-08) [scroll] Central Bank cut interest rates market weak sunshine private careOutlook (06-08) [scroll] Fund initiative to reduce the positions of large companies this week to jiancang main (06-08) [scroll] suning Tesco invested 200 million upgrade price war aimed at cat Jing dong (06-08) [scroll] Everbright PRU us: market deposit and pick up a chance to seeGood real estate brokerages plates (06-08) [scroll] Shanghai China International: methanol market weak shocks relatively unchanged (06-08) [scroll] Boshi: free interest rate cuts steady market growth signal down-space is limited (06-08) [scroll] Ma Guangyuan: oil price distance "to minimize"Long (06-08) [scroll] Niu Li: the fall in oil prices on oil products sales traction co (06-08) [scroll] response to General Secretary sky-high pay Payroll Department of Sinopec forge (06-08) [scroll] Everbright PRU us: market at the lower edge of the box (06-08) [scroll] text record the closing of the Forum (06-08) [scroll] significantly lower fuel prices in China (06-08) [scroll] 2011 County Finance of government revenue of 111.684 billion million (06-08) [Scroll] Audit Commission released the 27 cases of transfer of matter (06-08) [scroll] iron Dragon logistics: raised its price target to $ 10.89 buy rating (06-08) [scroll] Beijing downgraded provident fund interest rates (06-08) [scroll] SFC:Group units involved insider trading suspended reorganization of companies (06-08) [scroll] first two even dropped in July for three years or even dropped three (06-08) [scroll] clippings from: Chinese need to be deeply involved in economic globalization and regional cooperation (06-08) [scroll] Han Xiaoping: SyriaThe volatile situation will not be pushed up international oil prices (06-08) [scroll] Pan gongsheng resignation of Deputy Governor of the agricultural Bank or Bank of assignment (06-08) [scroll] Dong Xiucheng: drop the price of oil for economic analysis may release under the good (06-08) [scroll] China Securities Regulatory Commission on strengthening the restructuring unitChange regulatory notice (06-08) [scroll] weeks of the Earth: oil prices will likely continue downward (06-08) [scroll] China stable power supply pressures eased (06-08) [scroll] business futures company owned tube pilot net official capital of 500 million Yuan (06-08) gasoline and diesel respectively, down $ 0.39 per litre and $ 0.44 | Affecting the sectors and stocks | Successive adjustment | Thematic Lin Bo Qiang: modified by the fall in oil prices high | Oil prices or will continue down | Boost sales limited [] cut 0.25% | Loan limit 0.8 times times | Housing provident fund interest rates | Special counties in the private tomb of Super Deluxe [financial] auto group in Jiangsu Province broke down continued: oil product Super chlorine content United States 6,000 times [financial] Green City continue to "sell one's soul self" shares the wharf to raise $ 5 billion Hong Kong dollars [financial] Canon Zhuhai require employees to long-term leave Foxconn denies ChengduRiot [financial] silver insurance business in China Construction Bank fell regardless of performance not to be punished [shares] the two outflows of 8 billion shares being the banks to buy points to [stock] SFC: restructuring share insider involved shall suspend the restructuring of listed companies [commercial] learn from Liu brand-building the global youth unemployment highest national [commercial]8 questions that must be asked before the venture venture capital is like a pair of power-law distribution of [financial] Central Bank rate cut millions of mortgages issued 20 36,000 fewer bonds cancel [financial] rich dating $ 40,000 spare cash to finance activities of interest exposure pictures documentary: revealing the secrets of Foxconn, as United States Federal Reserve System