A ticket with a price as low as two yuan, the profit in 2020 will be 15 billion, the profit bottomed out last year, and it will rise to 6 billion this year, and it is now on the verge of reversing the dilemma.
In fact, the institution is also ambushing this wave of dilemma reversal, the securities company is the representative of the national team, and the securities company has a heavy position of 40.8 billion shares, ranking the fourth largest shareholder, according to the national team's previous holdings, the probability is more than 30%; In addition, according to the latest data, private equity ** and foreign capital are increasing their positions in this ticket, and it seems that with the stimulation of the policy, the reversal of the dilemma of this ticket will indeed be more fragrant.
From another point of view, this ticket, once as high as more than 30 yuan, has now fallen to 2 yuan, has indeed fallen out of the margin of safety, whether it is market capitalization, price-earnings ratio, price-to-book ratio, or all valuation, are at a relatively low level, which is a reason for foreign capital and private equity to come in.
The more important reason is that the company's ability to resist risks is relatively strong, and there was generally huge pressure on real estate companies last year, but this company overcame liquidity pressure, and in the first half of 2023, the carryover area of real estate business is still 6.61 million square meters, and the operating income is as high as 72.2 billion yuan. Moreover, the area to be carried forward is still 46.82 million square meters, which can maintain the carryover volume for two years, and there is little pressure in the future;
The 2023 semi-annual report shows that the company's total land reserve construction area is still 14.6 billion square meters, abundant land reserves, worry-free business in the future, now the real estate policy in the first-tier cities is still liberalized, this year's real estate policy will be more, the company's benefits will be more, the future performance will also rise upward, before 2020, the company's annual profit is 15 billion, and now the performance has bottomed out, and the profit in 2024 is likely to be more than 6 billion, and the corresponding price-earnings ratio is only 4 times.