Real estate companies concerned about the high refinancing is expected to fully liberalized

Published: 17:19:08 August 7,2013  Views: 58
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Real estate companies concerned about the high refinancing is expected to fully liberalized

Today Investment Financial Information Limited quantitative research shows that nearly a week, 'analyst highest degree of concern' in the first 20 stocks scattered distribution industries, including machinery and equipment stocks 4, real estate, commerce and trade, utilities, chemical stocks each 2, and the remaining eight stocks dispersed in the information equipment, food and beverage, light manufacturing, delivery equipment, building materials and other eight industries. present a brief analysis on the real estate sector.

August 6 after the close, the number of listed enterprises announced refinancing plan. Merchants Property [microblogging] announcement the company is planning to issue shares to buy assets of matter, A shares, B shares since August 7, 2013 from the suspension. Ken Chase bulletin will be issued no more than 18 billion yuan, the survival period of six years of convertible bonds. Song Du shares Classifieds Companies in preparation for non-public offering is expected to issue no more than 31,250 shares (including 31,250 shares), to raise funds amount not exceeding $ 1.5 billion.

Financing plan involves exceed market expectations: the market for August 1 Nisshin lake treasure announced refinancing plan multi-interpreted as a special case of shantytowns, while the second uses a number of companies involved in broader financing plan, Ken Chase may Bonds with proceeds mainly Nanjing Wansheng Century Park project, the project includes 637,000 square meters of residential and 64,000 square meters of commercial projects. Song are non-public offering of shares to raise funds primarily for use Nelson Nanjing International Garden Project ( intends to invest 840 million yuan), and Hangzhou ita international three projects (to be invested 380 million yuan), two projects are residential development, such as financing plan is approved, it means involving housing finance fully liberalized.

SG Securities analyst Zhaozhen Yi said that to maintain the view before: On August 2 Report << refinancing floodgates >> rhythm or exceed market expectations expressed in three points: 1) the new lake treasure not isolated cases, is expected to more enterprises will actively develop financing channels, involving housing refinancing release rhythm or will exceed market expectations, 2) the significance of the event sector of the market will gradually become involved in the formation of consensus refinancing room, triggering a revaluation of the real estate industry, 3) If involved in financing housing in the full liberalization benefited the most is the industry leading, high financial leverage strong corporate and shareholder background, with high-quality resources of the enterprise. We maintain these judgments are expected sector will continue to strengthen.

Fundamentals are expected out of the off-season, the valuation provides a margin of safety. Jul. traded off-season, 29 major cities in the overall turnover decreased by 4%, down 14%, in part, to suppress the plate valuation .8 turnover rebounded in the first week With traditional push plate September peak season, sales have recovered a high probability event. Currently the whole plate relative CSI 300 TTM-PE valuation of 1.36 times, 1.45 times lower than the nearly five-year average, there is relatively plate valuation Strong security, changes in the policy side of the catalyst, is expected to be a revaluation.

Essence Securities analyst Wan known judge, continued low real estate stocks rebound, but the upside is inhibited by fundamentals and inflation is not too high. Opportunities focused on refinancing theme, promising performance of three types of companies, one high advances from customers , has the potential to focus on the possibility of release Lights Holdings, Riverside Group, China happiness, the second is extremely low valuations, releasing powerful performance of Ken Chase third is traditionally rely heavily on financing to achieve high growth of high quality real estate stocks, Sun City, Emori development.

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