600,177 fundamental understanding and Opinion
reproduced: (reproduced Note: To be Director to provide its network name, then re-marked eye-catching way to your screen name!)
One of The Manniu mm I understand and Opinion
600,177 fundamentals as I am not a smart man, but also because I am senile, so helpless in the stocks have an obsession. I think that a more in-depth understanding from the fundamentals of 600,177 after , began a little bit of my spare cash for Jiancang, and now 117 has become my silent disease (Alzheimer's syndrome), I entered the ; so not a true investment philosophy of these people's narcissism, and even take a lot of abuse and, as to the real fundamentals of the post 177 can be described as rare. I want to quit; but are here, should be their own knowledge and ideas written, and even if criticism, as long as honest, regardless of the No, I will be grateful; if the verbal abuse, then I would think that criticizing his father, because my age is larger than its parents.
First, 600,177 how to accomplish what a business?
cursory view, the 177 is a textile and garment industry, which is its done a lot of efforts in this area, and even occupy the leading position in the field, using many new technologies, the development of many new materials such as nano and so on, made a lot of patents, received a lot of honor, and thus higher levels of transformation and the implementation of the The brand strategy .177 in textile and apparel industry achievements and performance, reporting and analysis can be described as the amount of vehicle fighting here is not to say, I want to talk about another aspect.
1990, the original English name of youth clothing factory youngor name, the Chinese translation for the Younger. For the Younger's trademark, what people want from roots in traditional Chinese culture, dragon is said to have nine children, the seventh child is dressed charge of the whole world, Tuomeng to the Younger, from elegant Al Gore to the Dragon King of the seventh son of LOGOL as their trademark. Later, in the country's reform and opening up policy environment, as business enterprises have developed rapidly. According to statistics, at present, annual sales reached 160 Youngor billion, enterprises are mainly involved in the field of textile, clothing, and foreign trade, and real estate. It's men's shirts, as the Younger traditional flagship product, the profit for 2007 is estimated to reach 1 billion. Youngor value the creation of its culture and art, new materials, new technology. modern logistics information technology and modern marketing combination is required for Younger chain integration and information marketing channel construction project results. Because of this, Youngor chasing the fashion industry can do, play the leading role.
However, the 177 gives the impression that it do anything, what topics are especially good at brokerage firms, listed companies and the proposed investment in listed companies, real estate also in full swing, hit out, Octagon hand, dazzling. To find out what it is doing, and it wants to do, that is, it's what long-term goal, it is Pofeizhouzhe.
recently, 177 , chairman of Lee, such in its internal newspaper wrote an article entitled The real goal: So I follow this path once again conducted a review of its fundamentals.
so-called to invest in shares and holding-based, while they rarely show up in the past we say The consortium, often implies aggression and expansion ambitions. Of course, China main role is the so-called consortium, the latter is not characteristic, but it should have the above characteristics and must be available. Now the question is whether 177 has the consortium's property. If you do not have, then as General Lee said, the only Thousands of Chinese A share market is a very rare company. Indeed, it has begun to take One point: I do not agree with many pundits main business for the company performance and light weight gains the habit of other views, when comes to performance of a stock surge, they say it is driven by investment income, and this income has uncertainty, so how come, in short, people feel the return on investment than the main industry proceeds to one dollar, as long as legal income is a dollar. investment income uncertainty, this is, but the main business income to have the certainty it? equally uncertain. just not the kind caused by selling off fixed assets income, should be to the greater. As my grandparents (in his early years in Shanghai,
Second, the 600,177 already beginning to achieve the consortium taking shape
first to admit that 177 has control or intervention to the number of companies, banks and businesses there, but lack of volume and intensity, but did not develop to the overseas expansion of a bit petty and therefore it can only beginning to achieve an objective shape the consortium, still can not shoulder to shoulder with the international consortium, the consortium is not a real. in the future if it could develop into a true sense of the consortium, making it China's Listed Companies wonderful work, we need to present it, with its associated companies, banks and corporate quality, performance and growth analysis, we also need a variety of layout and it is now reasonable inference to draw dynamic and conclusions, of course, look at the ideological level management team and operational perspective.
three, 600,177 holding, shares and a large degree of associated companies, banks and enterprises in the quality of both is excellent or superior
1, Younger home buyers wholly owned company
600177 Youngor home is a real estate company, founded in 1992, around and out, only 177 in 2002 to acquire its way into the listed company, to 2005, the company's total assets reached 4.1 billion yuan currency RMB, accounting for the Group's total assets Younger than 1 / 3. from the resource allocation point of view, Younger home buyers have become the mainstay of the company .2005, The company achieved sales of 1.33 billion yuan. in the domestic real estate companies has reached the scale. Companies with accurate market positioning, product planning and design and advanced high-quality property management, and gradually established a good brand image, in the Yangtze River Delta has a high reputation. Some people call it large land reserves and the location of land, which the industry often say block north of Lake Avenue, Lake of money, an area of nearly 11 million square meters; Yuyao Jiangbei New City Block and the eastern block, respectively, over 160,000 square meters area and 90,000 square meters, etc.; 2006 successively in Ningbo, Taizhou purchased a lot of real estate and other areas, including Suzhou, real estate, a total of about 137 million square meters, has been developed and proposed the development of the construction area reached 220 million square meters; Recently, the company is also competing in the West Lake in Hangzhou generous 36,000 square meters of land. so Excellent location large land bank to the company with great development potential, especially in the land is becoming more tense today and for the foreseeable future, the skill and efficiency are to be expected. This also reflects the real estate 177 more open line of sight, and it is possible to the country, even to the world.
a large number of reserves on the basis of land for further enlarge and strengthen the company, 177 shareholders have agreed to issue 1.8 billion of convertible bonds a period of 3 years, all funds raised to invest in Brilliance Block, Century Garden, the money side of the block and B3 Garden Hubei four real estate projects, plans a total investment of 5.138 billion yuan. this risk is that profits this year, the land cost is too high, if not developed into senior housing, if the price does not reach 20,000 yuan per square meter, the profit will be limited, even a loss; the same time, the state regulation of real estate, it has some uncertainty . Of course, the meticulous accounting of the 177, perhaps in this way to expand the influence of Hangzhou, the project probably is not the money. This is another matter.
177 real estate at least two bright spots. First, the issue of convertible bonds in the current market environment, can be regarded as positive. Although the main associated with the company would take to do more, but no real association with the company's main will be cheaper convertible bonds on a variety of operating methods to suppress price (the price of convertible bonds to 20 days before the announcement of the closing price of 90% of the average). The power of the 177's stock price hedge for a long period of time not necessarily reflect its intrinsic value, but in the long term, when the announcement of convertible bonds, the two forces will converge to create a strong motivation to do more. But it also prompted shares, currently is the best opportunity for bargain hunters . Second, there is news that the company plans to spin-off of 177. This is not confirmed the news, can not serve as the basis for any conclusions, but as a hypothetical analysis, it should be that 177 is possible to implement the plan. If If so, would not be a great good is it? Not long ago, high-level forum in the capital markets, an important person (I can not remember his name) caught my attention to the statement, he said, since allowing the company mergers, of course, the company should be allowed to split. This should have referred to, and 177 real estate spin-off is likely to include them? a great possibility.
177 spin-off if the real estate, according to my estimates and From the analysis of the psychological management, as well as the company's intellectual point of view, is not expected to split the A-share market, which in addition to avoiding possible negative effects, also lies in the company's overall development strategy will inevitably gradually with the trend of outward expansion, the only way to achieve a real goal of the consortium, so it is likely to win in the Hong Kong Stock Exchange, not even out of the United States or other countries stock market. No matter in which markets, 177 would be a great good. If so, the 177 will go to build an excellent platform for the outside world.
2, Suzhou, Suzhou Youngor Youngor
home home company company is also a real estate companies, property companies controlled by the Younger, of course, can be controlled by the 177. In holding this company, Suzhou, Zhejiang keen eye 177 with the performance, because the Suzhou itself is a historical and cultural heritage with deep city . The company was founded in 2004, the registered capital of RMB 2.5 billion people. 177 company based, full advantage of the successful experience of Ningbo Younger home buyers in the north shore of Jinji Lake in Suzhou Industrial Park to build a 50 million square meters tape mm Younger Future City, and advocate the five-star living in Suzhou area. the spirit of innovation, meticulous, realistic, hard-working style, talent, management, innovation, reputation aspects, trying to shape the Younger first-class real estate brands in Suzhou. To support its development, the recent injection of 177 of its 500 million 5 million. from which we can glimpse the real estate industry's ambitions in 177
should be said that occupy the high end of the real estate industry, not only requires vision, but also need strong Capital .177 both, is it filling romantic years. notes, taking off any large country has an early stage in its iron and steel, construction and sea and air transport industry, based on the three stages of development because only the rapid development of these three industries to the economy of the country's long-term development support. China is no exception. real estate in the case of one of the three pillars Moreover, the land is non-renewable resources, such as to occupy an excellent location real estate, it can support the development of a company for decades. To this end, I really admire Mr. Li Rucheng and his team looks. Meanwhile, the long-running high in China in the real estate industry, will bring good to the company and shareholders return.
, of course, talking about the real estate can not help but mention the recent General Lee westbound. maybe a commercial secret, the situation remains largely unknown, and when I heard about the matter, that the goal is to have natural gas, or natural gas services industry, but in fact he is to real estate. As the company has not announced this, I will talk about it on the back.
3, Yi Branch Technology (002036)
listed in the Science and Technology should Section ago, 177 shares of this company will be listed, the appropriate technology is a textile and apparel concept of families, the Department of fund holding, earnings per share of 0.54 yuan in 2006. the secondary market on the recent share price between 20-30 yuan . The company is a leading high-clothes lining, the comprehensive index ranked first in the country, the black carbon lining, interlining, lining the military share of the country accounted for 40%, 30% and 25%, while the first two products the major national standard setters; it with the French co-Xia Japanese group, the company into the international market, is expected to increase sales, increase market share, the prospects for the strategic investors are optimistic. For this company, 177 direct and indirect holds 29.84% stake in its controlling shareholder. 12.84% of the shares which may be regarded as the basic IPO, while the remaining equity purchase price of 12.13 yuan per share, much lower than the current secondary market price. from which we can calculate out of 177 in the company's investment income is the number!
but 177 is not just satisfied with the company's current investment income, in order to cause the development of cooperation in Yunnan Province and its investors to set up a holding company of industrial hemp . On the surface, should Section 51% 40% 177, but the holding should be Section 177, the new set up this company is actually owned by the 177. Recently, the Department has reason should be the possession of 9% stake in Yunnan acquisition, so it seems to have become the new company, a subsidiary of 177 Sun Company.
One might ask: What is it hemp? what its investment will yield? after I check online to know 177 This is a strategic vision Zhaoqi. Hemp is a new type of textile raw materials, it requires deep processing of high-tech means, and the new company is established for this purpose. Hemp is an important defense finished raw materials, mainly for the production of military uniforms, it is very popular not only China's armed forces, foreign it also fabulous. hemp industry, in a sense is a high-tech fabric industry leap forward. Meanwhile, in addition to hemp other than part of the fiber is also very valuable, and can be used in pharmaceutical and other industries, added value is very high. with Section itself should be lined with the military leadership of view, it is no exaggeration to say that 177 has taken a military concept, it can be said to hide a very deep military stocks. this risk is only a long construction period, nothing more.
4, extensive stock (002103)
extensive listing of shares in the former, 177 shares of the The company .2007 January, extensive listing of shares on the Shenzhen SME Board, which is office paper stationery. The company is licensed for the Olympic Games, if successful, will be a great opportunity .177 is its second largest shareholder, holding There 2,838.80 million shares, representing 14.95% equity. to July 6, 2007 closing price of the shares extensive calculation of 10.37 yuan, 177 in the company's book assets reached 2.9 billion shares end 2006 earnings per share 0.3279 yuan, an increase in earnings guidance and brokerage Shigekura concept of pre-and in the international market place. However, the equivalent of 177 IPO shares.
5, CITIC Securities (600030)
the securities industry in the current market environment, the appreciation of the situation is self-evident, as split share structure reform, a major Chinese stock market system defects are a better solution, and foreign circles think that it would become a barometer of China's economy, while China's economy is still in the early stages of take-off, there will be a longer period of rapid growth, therefore, capital market development and prosperity can be expected. Therefore, the securities of the company's growth and profitability is to be expected. CITIC Securities is a full can bring people Imagine the company. It's total share capital of nearly 30 million shares, the current share price it between 45-60 yuan, 177 is its limited conditions of the third-largest shareholder sold (6.16%), the second largest tradable shareholder ( 5.43%). That year, CITIC Group and other four original shareholders and other 40 enterprises and 177 corporate, Shanghai Yongjunyoushu Foundation four groups and the industry will be a total of 48 corporate sponsors. CITIC Securities Co., Ltd. signed a sponsor agreement, CITIC companies, four of the original shareholders of the original Limited, 1 billion yuan to subscribe for equity shares of 1,000,000,000 shares of 177 corporations and other business groups and industry body will be 1.6 yuan per share subscription .177 invest 320 million yuan, subscribe 2 million shares, accounting for the total shares of CITIC Securities 9.61%, becoming the second largest shareholder tied .2002 December CITIC Securities in Shanghai Stock Exchange issued 400 million A shares of common stock shares, 177 shares in the share increased from 9.61% to 8.06 dilution %. Among the letter after the stock market, the investment rate of return should use the br> This is something the industry as an equity investment in a classic case, the performance of shrewd calculation of 177 teams and exceptional vision.
, of course, 177 in the first quarter of 2006 quarterly reports show that holdings of 30,121,400 of CITIC Securities shares, reduction of price of between 36-38 yuan, currently holds shares of the company 15354.43. Some of the 177 questioned the reduction of CITIC Securities, which I will later in this article make personal judgments
6, Bank of Ningbo (002142)
June 22 this year, Bank of Ningbo, will be succeeded, becoming the first listed domestic city commercial banks. In the current Bank of Ningbo's existing shareholders, the 177 holds 17,900 shares, representing IPO 8.73% of total share capital after the listing of its total share capital of 16% 7 ... from this year several banks to see IPO, Industrial Bank, China CITIC Bank and Bank of the issue price-earnings ratio of 32 times, 60 times and 30.5 times the Bank of Ningbo growth as well, assuming that price-earnings ratio of 35 times the issue, according to Bank of Ningbo 2006 earnings per share was 0.308 yuan, coupled with speculation of new shares of the premium shares, the listing is estimated to 20 yuan. In this way, 177 once more nearly 20 billion in revenue. Of course, since 177 of its shares locked for three years, so according to the requirements of accounting standards, the assets can not be marked to market, but the intrinsic value is obvious.
was , why Bank of Ningbo listed, 177 of the shares to be locked for three years? Why do some companies not only locked for a year? I think this is the genius of 177, we must face, but also the lining: face , it locks in favor of Ningbo bank three years of stock market; child speaking from the inside, in fact, Bank of Ningbo, the 177 is a chicken that lays golden eggs, we are still staring at the golden eggs it lays golden eggs staring at it? , laughing, long-term investment philosophy has always been a long-term stock .177, or even a miracle can be said that long-term stock, we can only wait and see, the so-called )
177 shares held together for more than 7 million shares, basically IPO. Brilliance Department of Awkwardness of Fund shares, the recent share price is 16 yuan. UBP held 177 shares of the limited sale of shares, so according to accounting standards , still the original value of the calculation, but the limited sale period is over, it should be a secondary market prices. On the surface this stock for a large Younger nothing, but after all the assets of all shareholders, should also have knowledge to share. We not only want to great enthusiasm to find information, they will not know there is this balance of 177.
8, Shanghai nine hundred (600838)
177 who also holds more than 6 million nine hundred Shanghai IPO. Shanghai nine hundred Although performance is not ideal, but it is still a lot of concepts of stock speculation, the current secondary market price is 6 yuan, 177 Restricted shares also is the range, so in the accounting system based upon the original value of the calculation, if the limit sales lift, then the equity will increase. though a small, but then less is real money.
9, International Trade and Transportation Corporation (based trade)
177 International Trade and Transportation in Ningbo Younger limited companies accounted for 20% of the shares. the company's other major shareholder of Ningbo City, the largest professional foreign trade company in the BASE NINGBO FOREIGN TRADE Co., Ltd., solid background. The company is an integrated distribution companies. Founded in 2000, 3 month, by the Ministry of Foreign Trade, Ministry of Commerce approved the establishment of an international freight forwarding and import and export management rights business enterprises. the company profitable for six consecutive years, steady growth in annual profit turnover .2005 1.538 billion yuan, import and export total of $ 96,000,000. agent import and export of 11 million TEUs containers, agents of international air cargo of 3,000 tons, 920 tons of international express mail, domestic coal operation scale up to 60 tons. hundred companies topped the list of China International Freight Forwarding 35th overall strength . the Commerce Department in 2005, ranking China's foreign trade, the company topped the The company is also actively seek listing. before it is not listed, it will bring stability to return to the 177, if listed, 177 will be a substantial amount of revenue growth.
10, the Hangzhou Bay Bridge
177 in his investment is seldom mentioned in public information of Hangzhou Bay Bridge, at the beginning, its 45% investment in total investment, but later sold a majority share of it, and finally only 4.5% of investment. the information from public inspection no reason why this change occurs. Some analysts say this may be because the investment environment was key national infrastructure, private investment has been limited, 177 for unsuccessful, and that makes the most of the shares, but no credible information able to confirm this view. I do have another view, the latter in combination with other circumstances I will present my reasoning. but in any case, can have such influence in the national infrastructure occupies a certain share, which itself is a success is the performance of a unique vision. The bridge is now closing, expected in 2008 to traffic. It is estimated that it is charged per vehicle passage times 80. It appears that this investment will bring certain benefits 177. Although long duration, the amount is limited, but it is very stable.
11, Tianyi Securities, the investment of a conflicting message
This is a contradictory message for individual investors for investment projects.
one kind of information that, in the brokerage field, 177 in addition to investment in CITIC Securities, also invested in local, Ningbo City, Ningbo Tianyi Securities with 177 mm, Intime, Vico and other business enterprises established Tianyi Securities. which hold 177 to 150 million 15,000 million, total equity of 14.97%. This is certainly IPO. Previously, there was a rumor Tianyi Securities and Everbright Securities to reorganize and achieve backdoor listing. So some people say: Younger once again enjoy the type of brokerage CITIC feast would not dream of wealth. the color of the securities companies to shift business development to the country. It moved to Shanghai in 2002 and achieved all Comprehensive brokerage business qualification, is the largest brokerage firms in Zhejiang Province, consists of four large regional headquarters, sales offices and 4 20 securities service department, and the holding element combined fund management company. the company stable, the pursuit of the sun profits, the profit out of the brokerage in 2001 20th, 12th in per capita profit of the column, the total profit compared with the value of the column 3; 2002 The total assets of 3.8 billion, net assets of 1.1 billion, at the time securities industry-wide loss of a net profit, net income and net capital gains rate index moved up to the industry 4. In the current market environment , we can imagine to enhance its profitability, you can also get to see how much revenue from 177.
However, all this might have nothing to do with the 177 because the other one the information that the transfer of 177 has Tianyi Securities and receive a transfer of money, has also been approved by the SFC, but there are procedures for business registration is not the end of the above. allegedly in July 2006 by the 177 shares of securities to answer questions to answer, with considerable reliability. but asked the transfer of to whom the information provider is unable to speak.
177 shares, but they love, especially small retail investors who do not know or do not believe this information, many people insist that the 177 still held Tianyi Securities stake reason is that so far in such a large financial sites such as the difficult to determine, 177 should be made open and transparent explanation.
12, has not yet announced the online circulation of the western investment
news on the westbound 177 CEOs, the most popular is a hot forehead Jiaoren words: With 100 billion to find items. Younger investors have signed an agreement in Chongqing Tea Garden District. Under the agreement, 177 will be invested in Chongqing, western clothing production base, and the base to become the western hub of radiation. But the fact is clear that the stakeholders are not so simple, most likely 177 in the west to invest in the name of the enclosure. According to media reports in Chongqing, 177 Chinese and the western market, will invest 500 million yuan in Chongqing. However, such information 177 is not a major announcement. said the company, said Deputy General Manager Liu Xinyu , Chongqing, local reports there may be some misunderstanding, because the current process of setting up Youngor are two companies in Chongqing, the registered capital is ten million yuan, the future will come on stream by the two companies, will invest 500 million yuan is not a sudden . It has been revealed, will invest 100 million yuan construction of 177 118 acres of western clothing base, 100 million yuan perfect marketing network in Western and another 300 million yuan was invested in real estate. It appears that real estate will be the 177's main industry, at least One of the main industry. there insiders have revealed that the hands of 177 laps from the Nan'an District to 1000 acres of land. Clearly, the construction of 177 decided to invest in Chongqing is not just fancy clothes behind the base of Chongqing and western apparel market, but also Chongqing side reciprocated inseparable. Currently, the price of 177 is how to get to, and relevant departments have not made public. According to the National Development and Reform Commission and National Bureau of Statistics reported that the third quarter of 2006, when the national drop in home prices, Chongqing prices are up 6% against the market trend. It is clear that house prices continued to rise in order to stimulate the construction of 177 to enter the name of the real estate of Chongqing.
I think, for such a huge investment and not send a notice is clearly contrary to capital market rules. and this is exactly what we judge important aspects of risk 177. of course, can be judged, it may not yet issued a statement to the needs of the stage, I hope so.
However, the situation from the westbound 177, 177 There may be other investment and layout, and scale of the project may be beyond our imagination. but these can only guess. The stock market needs to be transparent, but the stock market forever blurred. but we guess a company's investment, not speculation, a the company's debt. two compared to the former course, is reassuring. But 177 of the boss and the entire team note that the management again and again as stocks, you should be the same education: market risk, investment should be cautious. < br> IV into two read more than 177 177
sum investment and operation of the whole, 177 of investment not only in the classic CITIC Securities, or even 177 itself can be said that the property has a capital of predators. The so-called capital markets do an eagle.
One thing is worth mentioning that, the company boss Lee, such a meeting at the executive requirements of shares held by executives of the Company not to sell stocks, this should be seen as confidence in the company, because He himself holds 95 million shares of company stock, and his brother, company Vice Chairman Li Long Li Rugang holds 45 million shares. General Lee on the requirements of executives, but also to the secondary market to purchase shares of the company holding investors with confidence.
, of course, on the 177 I still have some additional views.
I think the 177 has a greater goal, to embrace a broader way, it is like to step into the world capital of predators figure field, it will not be satisfied with the expansion in the country. Although I did not find any big 177 in action abroad, but it is reduced to the Hangzhou Bay Bridge, the investment share (if not the words of the foregoing), from the rumored intention 177 Tianyi Securities sold equity holdings from 177 CITIC Securities action, it seems no accident. All this occurred in the westbound after the fact, rather than move to raise funds for the westbound outside the mass as a .177 funds to find items, to solve, that is, ...
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