Chong Hing Real Estate: The acquisition of iron ore shares thickening future performance

Sina tip: This article belongs to a stock comment column, only for securities consultants on the relevant stocks or plates of personal views and analysis, and informal news reports, Sina does not guarantee its authenticity and objectivity, investors operate on the basis of risk.　　For accurate information about the unit, please refer to the Bulletin of the Shanghai and Shenzhen Stock Exchange. Haitong Securities Handsome Tiger Company also stressed that it will seek a proper way to restart the moratorium on the acquisition of Oasis Kangqiao 60.07% of the equity, in order to solve the competition problem. The company announces the actual control person to change, changed by Chen to Chen. The actual control of the changes will enable the company to get rid of the 2007 suspected insider trading case, in order to acquire the remaining shares of the Shenlong iron ore, as well as to solve the problems arising from the Oasis Kang City Project Competition and other issues, paving the way. Before we forecast the company 2009-2011 EPS is 0.45 yuan, 0.97 yuan, 1.23 yuan, if the acquisition of iron ore residual equity successfully completed, then the corresponding 2009-201-year EPS is 0.45 yuan, 1.13 yuan, 1.59 yuan respectively. Taking into account the company's real estate and iron ore business has entered a high-speed growth period, and the company's Oasis Kang City project holding ratio of the possibility of improvement. Therefore, we maintain the company's "buy" investment rating, according to the 2010 earnings per share of 15 times times PE, to increase its 6-month target price to 16.95 yuan.