Xinhu Zhongbao (600208): Real estate benefits from the integration of the Yangtze River Delta and the prospective layout of financial and high-tech resources
Core point of view: Land benefits from the integration of the Yangtze River Delta, forward-looking layout of financial and high-tech resources. Throughout the company’s development history, the company can grasp the development trend of China’s industry and its business layout.
In the first 10 years of the company’s establishment, the company focused on real estate, laid out the Yangtze River Delta region in advance, and locked in high-quality land resources in advance. Currently, the value of the Yangtze River Delta region is 254.4 billion yuan, accounting for more than 70%.The development project is rich in potential high-quality resources and will fully benefit from the integration of the Yangtze River Delta.
Beginning in 2007, the company actively deployed financial license resources, and in 15 years, it has laid out high-tech areas, including financial technology and information technology, the conversion of capital markets and the continuous development of financial instruments, and the value of these areas will gradually emerge.
Prospective layout of financial services, rich financial license resources After 10 years of advanced deployment, it now has a full range of financial license resources such as banking, securities, futures, and insurance. For CITIC Bank, Shengjing Bank, Wenzhou Bank, Xiangcai Securities,The main shareholder of financial services 武汉夜网论坛 institutions such as New Lake Futures and Sunshine Insurance.
Actively deploy financial technology and information technology. The high-tech field layout has begun to take shape. In 15 years, the company has laid out high-tech resources, including financial technology and information technology.
Among them, fintech has initially formed a synergistic effect with financial services, forming a two-way enabling financial services ecosystem.
In terms of information technology, we have invested in state-of-the-art technology companies such as Bangsheng Technology, FunChain Technology, Harmony Cloud Technology, etc., and have begun to take shape in the diversity of technology fields such as big data platforms, blockchain, and cloud computing.
The 18-20 year results are 0.
57 yuan / share, maintain “Buy” 北京桑拿洗浴保健 rating According to estimates, the company’s NAV scale is 813 trillion, of which 9.
45 yuan, 59% discount, assuming a 45% discount margin repair, the company’s reasonable value is about 5.
2 yuan / share.
At the same time, the company’s equity value in financial services and high-tech fields has room to increase, and the value revaluation has potential for thickening.
Risks indicate that the company’s real estate sales and settlement progress is less than expected; the company’s equity investment is uncertain.