Wing Tai real estate valuation attractive
Last year, Wing Tai Properties (0369) sold its portfolio of assets for a second consecutive sale last week for the sale of W Square properties at Hennessy Road, Wan Chai with a total GFA of 128,600 sq. Ft. For office and retail properties at a consideration of $ 2,848 million. Upon completion, it is estimated that it will record a revenue of 1.06 billion yuan. Two months ago, the property sold at Tsuen Wan Yung Nam Warehouse Building for a consideration of about 2.162 billion yuan. The total gross floor area of the project was 497,000 square feet. The property was completed as early as 1988, at a cost of only 208 million yuan. The sale is estimated to bring about 659 million yuan of profit after tax to Yongtai.
Last October, Wing Tai Real Estate Partners Capital Strategy (0497) won the URA’s Peel Street / Graham Commercial Development project in Sheung Wan with an estimated market price of 11 billion yuan. Successive sale of mature assets cash, believe it is a new development project for financial deployment.
In addition, Yongtai Real Estate plans to launch three new units this year, starting with Hannuiping Jiuding in Jiudu, which cooperates with WANTTA Group and will soon launch the same zone Jiufen and Tuen Mun Tai Lam Castle Peak Road project. Three are luxury projects, materials, materials, current and next year is expected to recurrent recurring gains, taking into account the sale of assets recorded by the special income, while speculation around the performance of one or two should be no difficulty. The stock closed at 5.98 yuan yesterday, down 0.9%, the current price-earnings ratio only 7 times, if the opportunity back to 5.8 yuan nearby, can be bought for long-term holdings.
Green Power Environmental Protection (1330) issued a profit warning. As of the end of last year, its net profit dropped about 10%. The Company’s net profit in 2016 was RMB230 million. The main reason for the drop in profit was due to the fact that there was no new subsidy catalog for renewable energy price during the period. The Ninghe Straw Project and Jurong Project recorded a loss for the first year and the income tax expense increased. The stock closed at 4.23 yuan, down 3.8%.