In 2006, Vanke achieved a main income of 654.38+0.785 billion yuan, up 69% year-on-year, and a net profit of 265.438+0.5 billion yuan, up 59.6% year-on-year. The settlement area was 2.896 million square meters, up 63.8% year-on-year, the completed area was 3.275 million square meters, up 50.6% year-on-year, and the earnings per share was 0.493 yuan. Comments: From the main financial indicators and business indicators in 2006, Vanke A showed good growth. The main income and net profit increased by more than 60%, and the earnings per share increased by 35.8 1% when the share capital increased by 65.438+07.39%.
Pearl River Delta; The Yangtze River Delta and Bohai Bay are still the focus of the company's development; And they are still the main source of main income and net profit; Among them, the main income is 28.79% and 38.88%, and the net profit is 43. 1 1% and 35.39%. 25.5% and 34.5% of the settlement area come from the Pearl River Delta and the Yangtze River Delta. Shenzhen, Guangzhou, Shanghai, Beijing and Tianjin contributed 6 1.2% of the main income and 75.3% of the net profit.
By the end of 2006, Vanke A's equity planning area was 65.438+05.36 million square meters, and the advance payment was 8.836 billion yuan, which laid the foundation for the company's growth after 2007.
Because Vanke A has a clear strategy and development ideas and a certain brand awareness, its performance growth rate is much higher than the industry average, and its future performance growth can be expected, and it will continue to be given a "buy" rating. (Source: Haitong Securities)
In 2006, the company realized the main business income of 65.438+07.848 billion yuan, up 69.04% year-on-year, and realized the main business profit of 5.072 billion yuan, up 67% year-on-year. The net profit was 26,543.8+0.54 billion yuan, a year-on-year increase of 59.55%. Earnings per share was 0.49 yuan, up 35.8 1% year-on-year, net assets per share reached 3.4 yuan, up 52.6% year-on-year, and inventory was 30.8 billion yuan, up 65.438+008% year-on-year.
First, the company's annual operating performance meets our expectations.
Second, the company's production and operation achieved connotative growth, and the premium effect was outstanding.
Third, real estate macro-control policies bring opportunities for the company's development.
Considering the company's current operation, it is estimated that the company's earnings per share in 2007 and 2008 will be 0.68 yuan and 0.87 yuan respectively. The company's performance will maintain rapid growth. As a large real estate development enterprise, its scale and influence rank first in China. Based on this, we give the company a price-earnings ratio of 28-30 times. According to the company's earnings per share in 2007, the reasonable price of the company should be around 65,438+09 yuan -20.4 yuan. Considering that the current stock price is 16.56 yuan, there is still a gap of 15% from our expected goal. (Source: changjiang securities)
In 2006, the performance of real estate development companies was generally good. As an industry leader, Vanke is no exception. According to the annual report of Vanke in 2006, the company realized the main business income of 654.38+0.785 billion yuan last year, a year-on-year increase of 69.0%. The net profit was 26,543.8+0.5 billion yuan, a year-on-year increase of 59.6%.
Although government regulation continues; In 2007; The whole industry; Including Vanke; Will still maintain a relatively good performance; This is determined by the special settlement method of real estate. In addition, the trend of RMB appreciation remains unchanged. Real estate stocks will remain strong in 2007 without major adverse changes at the industry entity level. (