公司已公告2012年-2014年股东回报计划，规定未来三年以现金方式累计分配的利润不少于未来三年实现的年均可分配利润的30%。目前格力海岸销售在即，未来股东回报有望丰厚。预计公司2012年、2013年每股收益分别为0.54元和0.65 元。目前股价对应2011年市盈率为10.33倍，2012年为8.58倍。公司主要项目集中在珠海地区，后期去化速度对公司股价将产生较大影响。此外，公司同时具备横琴岛开发和港珠澳大桥概念。给予公司2012年12倍市盈率，对应目标价格6.48元，维持“增持”评级。

The company has announced 2012-2014 plan shareholder returns，Provisions in the next three years cash accumulative total distribution profits of not less than three years of the realization of the future annual allocated 30% of the profits。At present the gree sales at the coast，The future shareholder returns is expected to be rich。Expect the company in 2012、2013 earnings per share were 0.54 yuan and 0.65 yuan。Current share prices in 2011 for the corresponding 10.33 times p/e ratio，2012 to 8.58 times。The main project focused on the zhuhai region，To change the speed of the late great impact on the company's share price。In addition，The company also has HengQinDao development and the Hong Kong, zhuhai and macau bridge concept。Give the firm a December 2012 times earnings，Corresponding target price of 6.48 yuan，maintain“increasing”rating。