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中国建筑:地产销售强势回升 估值处于底部--亲稳网络舆情监测室
2012-07-30

  中国建筑(601668,股吧)601668今日公告2012年1-6月份经营数据,具体包括:

China building(601668,Shares it)601668 January 2012 today announced in June the business data,Specific include:

  建筑业务方面:新签合同额5127亿元,同比增长13.8%;施工面积51750万平米同比增长26.5%;新开工面积9809万平米,同比增长3%,其中6月份单月新开工1971万平米,同比下滑17.4%;竣工面积1539万平米,同比增长11.7%;2)房地产业务方面:房地产销售额576亿元,同比增长14.5%;销售面积440万平米,同比增长21.9%,销售均价同比小幅下跌6.1%;1-6月份新增土地储备378万平米,截止2012年6月底公司土地储备为6,571万平米。

Building business:New signing stood at 512.7 billion yuan,Year-on-year growth of 13.8%;The construction area of 51750 square meters,Year-on-year growth of 26.5%;New construction area of 9809 square meters,Year-on-year growth of 3%,Six month in new construction 1971 square meters,Decline 17.4% year-on-year;Final construction area 1539 square meters,Year-on-year growth of 11.7%;2)The real estate business:Real estate sales of 57.6 billion yuan,Year-on-year growth of 14.5%;Sales area of 440 square meters,Year-on-year growth of 21.9%,Year-on-year sales average small down 6.1%;1-created in June 378 square meters of land reserves,By the end of June 2012 the land reserve for six,571 square meters。

  中金公司认为,6月份单月新签合同和新开工面积有所下滑,主要由于统计原因所致。5-6月份合计数据同比增速合理。“稳增长”基调确认后,伴随两次降息,公司感受到下游业主的资金面和需求都有改善,但反映到新签合同和新开工面积上会有些时滞。预计下半年新签合同和新开工面积都将环比上升。管理层对全年新签合同突破万亿有信心,这靠近中金全年预期10%-20%增速的上限;公司6月份单月销售额137亿元,同比增长15%,环比增长21%,维持全年实现千亿地产销售收入的判断。

Cicc think,In June a new sign a contract and new month slipped commenced area,Mainly due to the reasons caused by statistics。5-June year-on-year growth aggregate data is reasonable。“Steady growth”Fundamental key confirmation,With two cuts,Company owner and the financing side feel downstream demand has improved,But reflected in new sign a contract and new commenced area will some delay。The second half is expected to sign the contract and new new commenced area will annulus comparing to rise。Management to the New Year contract breakthrough trillions have confidence,This close to 10%-20% annual cicc expected growth rate of upper limit;The month of June sales of 13.7 billion yuan,Year-on-year growth of 15%,Annulus comparing growth of 21%,Maintain annual achieve real estate sale income billions judgment。

  6月地产销售的强势上升主要由中海外贡献,中国海外发展(00688.HK)6月份单月销售额148.4亿港币,同比增长22.3%,环比增长20.6%。

June real estate sales rise in the strength of the main contribution by overseas,China's overseas development(00688. HK)June sales month of hk $14.84 billion,Year-on-year growth of 22.3%,Annulus comparing growth of 20.6%。

  中金公司认为,当前股价下,中国建筑2012年PE为6.2倍。与其他建筑和地产公司相比,估值处于建筑和地产板块的底部,维持中长期的“推荐”。未来股价推动因素来源于公司业绩的稳定增长和股权激励计划的具体实施。

Cicc think,Under the current share price,China building 2012 PE for 6.2 times。And other construction and real estate company compared,Valuations in building and real estate at the bottom of the plate,Maintain the medium and long term“recommend”。Share prices push factor derived from future performance of the company and the stable growth of equity incentive plan of the concrete implementation。

  (《证券时报》快讯中心)

(《Securities times》Dispatch center)



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