Blu-ray Development (600466) Company In-depth Research Report： Multi-Synergy Creates a New Chapter of Blu-ray National Layout
Blu-ray Development (600466) Company In-depth Research Report: Multi-Synergy Creates a New Chapter of Blu-ray National Layout
The performance was released steadily and the financial situation was good. From January to September 2019, the company achieved operating income of 278.800 million, an increase of 95 in ten years.3%; net profit attributable to mother 25.40,000 yuan, an increase of 107 in ten years.8%; Since 2015, the compound annual growth rate of operating income and net profit has reached 33.65% and 40.06%, ranking top 3 in the top 100 real estate companies.Financial leverage continued to improve, short-term debt repayment pressure was low, and the average level of comparable companies in the security segmentation industry. The nationwide layout helped sales, and the land acquisition strategy was accurate and efficient. The company achieved sales of 715 from January to September.2 ‰, an increase of 6 in ten years.6%, sales top 30 in the industry.The company adheres to the strategy of deep cultivation and development, based on Chengdu, Chongqing, eastward and southward, seize the opportunity and enter the value depression of key urban circles, and has achieved the strategic layout of the first-tier and second-tier cities and strong third-tier cities in East China, Central China, South China and Beijing.;, The company has been ploughing in Chengdu, Yunnan and Chongqing for many years, and has abundant land resources. The presence in the city combined with high value-added potential and strong market demand has provided strong support for the sustainable development of the company’s real estate industry. Innovation drives industrial upgrading, and creates business highlights in collaboration. In terms of Blu-ray development, it adheres to the traditional real estate industry as its core origin and fully explores its commercial prospects. It focuses on the frontier industries of 上海夜网论坛 biomedicine as innovation and strives to tap the development potential of the life field.At the same time, the company unites the Internet and capital, actively embraces cultural tourism, real estate finance and other industries, and covers multiple areas of concentric and diverse industrial ecological chains to achieve coordinated development and fully release potential value. Risk warnings: The adjustment policy of the real estate industry is tightened, sales are below expectations, and the growth rate of projects under management is below expectations. Systemic risks in the A-share and Hong Kong stock markets. Profit forecast and investment recommendations Blu-ray Development sales and performance are increasing rapidly, with sufficient land reserves, diverse financing channels, good financial conditions, and significant 杭州桑拿 national performance, and the company ‘s current level of measurement is at its lowest level in history. Made by 1.13/1.63/2.15 yuan increased to 1.15/1.71/2.24 yuan, the corresponding PE is 5.6/3.8/2.9 times, the level is raised from “overweight” to “buy” with a target price of 8.29 yuan / share.