Self-trade Area first cattle stocks highbrow Waigaoqiao or overvalued 1 time times

From the closing price of July 19 to 13.50 yuan, to September 25 of the close of 64.16 yuan, less than one months trading time, Waigaoqiao (600648.SH) shares rose more than 4 times times, a duplicate license 17 trading day, 15 trading, a 4.84%, a 8.48%.　September 26, after the stock price fell, to carry out consolidation, although September 30, the company's share price of a Yang line, Shanghai, a private equity fund in charge of the "First financial daily" reporter said, "Such a high stock price, who dare to take the market, high places are too cold." Analyst valuation of 28.24 Yuan "compared with the Hong Kong free port policy, the value of the production factor revaluation, we expect the future value of the company's assets will be significantly benefited from the progress of the FTA, and by the policy dividend, industrial upgrading, land price revaluation, positioning and upgrading of the five major positive." Without considering this factor, we get the company Rnav is 28.24 yuan. "Haitong Securities (12.51,0.00,0.00%) real estate analysts recently particularly bullish Waigaoqiao, the reporter looked to the waigaoqiao since April a total of 5 reports, of which 4 are Haitong Securities report." Still, the current price of Waigaoqiao is about twice times as much as analysts think the company's reasonable share price. After the State Council announced the establishment of the Shanghai free Trade zone, sparked a market for local real estate appreciation of high expectations, market News said, in the Waigaoqiao free trade zone outside the door, housing prices in one months rose 20% to 30%. It was also the news that sparked a stir in the price of Waigaoqiao. Waigaoqiao suspended on July 22, and announced on August 30 the Non-public offering program, the amount of funds collected no more than 2.7 billion yuan, of which 2.1 billion yuan plan for the multinational company regional headquarters platform, Asia-Pacific Distribution Center platform, professional logistics platform, high-end modern service platform, functional trading platform, 600 million yuan for supplementary liquidity. After the back of the Waigaoqiao, September less than one months time, the stock price rose 4 times times more. On September 25, the market value of Waigaoqiao has approximated to 65 billion yuan, significantly higher than the OCT (000069.SZ), China Merchants Real Estate [micro-BO] (24.00,0.00,0.00%) (00024.HK) and other peers. Waigaoqiao Free Trade Zone approved the planning area of 10 square kilometers, 2012 total merchandise sales exceeded 1 trillion yuan, total import and export of more than 100 billion U.S. dollars, economic total accounted for about 50% of the national bonded zone. Waigaoqiao Free Trade Zone is a developer, operator and service provider, after years of development has formed a property management, land development and logistics trade, such as three major business sectors. The company has 2.2 million square meters of plant, warehouse and other operating properties, the follow-up will also increase the project of the business, office and other business properties, property management is the company's development. At the same time, the company is actively promoting Senlan project development, the project started in 2005, is currently in the harvest. In the logistics trade, the company relies on Logistics park to speed up the development of logistics industry, make full use of its advantages, build a set of trade, logistics and warehousing "Trinity""Logistics chain. Hot money speculation because Waigaoqiao China (Shanghai) free trade zone will become China's new round of reform and opening-up fulcrum. The company is expected to become China's new round of reform and opening-up and trade transformation of the "experimental plots", a-share of the sole modification, finance, trade core platform enterprises, the future policy dividend, industrial upgrading, land price revaluation, positioning changes and functional upgrading of five potential positive will push the company into a new round of development So get hot money hype. "This self-trade zone concept stocks rose, there is indeed a good fundamentals, but can not be separated from the speculation of the hot money." "A private equity official in Shanghai told reporters. From the billboard data of Waigaoqiao, the "trading death squads" represented by the Shanghai Oriental Road Securities Business representative of the Tibetan Securities Co., Ltd. had appeared in the company's trading seats. "Hot money speculation of a stock, often the more hazy news, the better the hype, once the good cash, often is the opportunity to flee the capital." "A beijing-based brokerage said to reporters, but Waigaoqiao in less than one months, the stock price rose more than 4 times times more than, it can be said that the expected to be greatly elevated. Since the launch of the FTA, investors have given great expectations, but Lin Guijun, vice president of Beijing Foreign Trade University, said that the core of the FTA is to promote reform through openness. In the key indicators of trade facilitation, China's poor performance, the deterioration of non-tariff barriers in China, technical standards and customs procedures scored lower. CICC analysts also believe that even if the north-East Asia Transit hub Busan of the international transfer of half of the transfer to Shanghai, only to bring 12% of the increase in the box, and the transfer of international transit business involves software level, it takes a long time, that is, logistics growth may be lower than market expectations. Some brokers told reporters that Shanghai's house prices and land prices have not been cheap, even if the FTA is good, can not push prices higher than the level of developed countries. He believes land prices will rise, but the gains are limited. After the stir, Waigaoqiao currently has a dynamic P/e ratio of more than 60 times times, the agency began to sell its holdings, September 18 billboard data show that the Eastern Securities Customer Asset Management department appeared in the top five seats, selling the amount of 215 million yuan. "One-month share price rose 4 times times, this position who dares to continue to buy." "A Beijing agency in charge of the reporter said that the agency will not buy, only one side of the hot money on the shipment side up, he thought, hype main tactics, Waigaoqiao stock prices may not be all the way down, which may rise and fall, but he does not recommend investors continue to pursue, because this time to enter the Even if there is a second wave of hype, risk control should be put in the first place.