J.P. Morgan Chase published a research report. It is expected that the worst time in the domestic housing market has passed. It looks forward to better market conditions next year, is optimistic about the performance of domestic housing stocks, and expects the average increase in domestic housing stock prices of 21%.
J.P. Morgan Chase's brief review of domestic housing stocks
Vanke (000002-CH) /large domestic housing stock, the largest property developer in the mainland, with diversified asset distribution.
Overseas China (00688-HK) /large domestic housing stocks, the largest state-owned property developer in the mainland, land reserves are scattered, and a compound increase of 20% is expected from 2010 to 2012.
China Resources Land (01109-HK) /large domestic housing stocks, state-owned enterprises, domestic housing enterprises with the highest commercial income in the mainland, also reached 1.5 billion yuan per year, but capital flow is weak.
Shimao Real Estate (00813-HK) /medium-sized domestic housing stock, with land reserves scattered across more than 30 mainland cities. Profit growth is expected to be strong next year, but debt ratios are high.
Agile (03383-HK) /Mid-sized domestic housing stocks have strong short-term profit growth momentum. There is less risk of capital flow due to the launch of multiple projects next year.
R&F Real Estate (02777-HK) /land reserves are scattered but weaker than Shimao Real Estate, and the debt ratio is high.
Stock Name/Investment Rating/Target Price
Vanke (000002-CH) /increase holding/RMB 16.30.
Overseas China (00688-HK) /holdings increase/19.5 yuan.
Shimao Real Estate (00813-HK) /holder/increased holders/16.8 yuan.
Agile (03383-HK) /holder/15.2 yuan.
R&F Real Estate (02777-HK) /increased holders/16.3 yuan.
Hengsheng Real Estate (00845-HK) /increased holders/4.5 yuan.
Hejing Taifu (01813-HK) /increase holding/8.25 yuan.
Greentown China (03900-HK) /neutral/13 yuan.
Ruian Real Estate (00272-HK) /Neutral/4.6 yuan.
Zhongyu Land (01224-HK) /Neutral/3.65 yuan.
China Resources Land (01109-HK) /neutral/17 yuan.
Poly China (00119-HK) /neutral/8.27 yuan.
Ocean Real Estate (03377-HK) /neutral/6 yuan.
Cooperative Innovation (00754-HK) /holdings reduction/8.5 yuan.