The acquisition of Imperial Court Hotel is expected to increase its performance, and the follow-up theme park expansion is worth looking forward to.
The main business of Huangting Hotel Company is the hotel's own business and external operation and management services. At the beginning of its establishment, Huangting Hotel Company mainly leased some floors of Huanggang Business Center from Shenzhen Huangting Commercial Management Co., Ltd., self-operated Huangting V Hotel and Huangting apartment, the source of profit was room rental and other income. In order to expand the company's business and increase profitability, Huangting Hotel Company expanded three entrusted management projects in 2016 and signed an "operation and service contract" with the client to provide operation and management services for Huangting apartment, Shaddock Bay Resort and Qingqing World.
Buy a concentric re-loan company, sit down? Small loan central bank? Position to further build a diversified financial platform with concentric funds as the core
The concentric re-loan company has the first re-loan license of a small re-loan company in Shenzhen. on April 15, 2014, it was approved by the Financial Development Service Office of Shenzhen Municipal people's Government on the approval of the pilot business qualification of Shenzhen Tongxin Micro re-loan Co., Ltd., approving the following business scope of the concentric re-loan company. At present, the concentric re-loan company is mainly engaged in providing re-loan services to Shenzhen micro-loan companies, and the cumulative loan balance has exceeded 2 billion since the establishment of the company. The future will be built? The full service platform of small loan industry? Financing and debt transaction integrated Internet financial service platform? Private small and micro collection asset management platform has gradually become a national benchmark financial asset management service operator.
We commented on it in the previous report. We believe that the role of the concentric fund is equivalent to the "central bank" of the 'small loan company', undertaking the responsibility of financing the small loan industry and transfusion of Shenzhen's real economy and small and micro economy. The license plate has a certain degree of scarcity and high business barriers. The acquisition and capital injection of the concentric re-loan company, the company is based in Shenzhen? Small loan central bank? To further build a diversified financial platform with concentric funds as the core.
Acquire and inject capital to acquire the controlling stake of the Internet innovation company, Microinsurance Company, and enter into the fields of insurance payment and Internet insurance, with a clear lead.
The Micro Insurance Company is the first and only Internet innovative enterprise in China that uses cloud platform model to provide comprehensive payment and settlement information platform services and Internet insurance services for the insurance industry. The cloud platform of the microinsurance company connects with the collection and payment center of the people's Bank of China, and integrates commercial banks and third-party payment companies to provide the most convenient and efficient payment service for the insurance industry. make the cloud platform of the microinsurance company become the payment information processing hub of the insurance industry.
The micro-insurance company model subverts the traditional mode of relying heavily on third-party payment companies to carry out fund receipt and settlement in the insurance industry, and avoids the risk of capital occupation and the low efficiency of capital liquidation through third-party accounts. it realizes the separate management of information flow and capital flow, realizes the direct interaction of funds from customers to insurance companies, improves the settlement efficiency of insurance companies, and reduces the capital risk of the industry.
In April 2015, the microinsurance company signed two insurance companies to provide services to more than 10, 000 C-end users, with a cumulative transaction volume of more than 70 million yuan. After a year of development, as of April 2016, microinsurance companies have signed a total of 13 insurance companies, providing services to more than 700000 C-end users, with a cumulative transaction volume of more than 8 billion yuan.
Keep an eye on the company? Build the convergence and link between man and wealth? Create an omni-directional commercial real estate service ecosystem? Efforts and progress to maintain? Buy? Rating
We think: what the company is building? All-round commercial real estate service ecosystem? through more than a year of mergers and acquisitions, the outline of this ecosystem has become clearer and clearer. The company disclosed that in the future, it will combine the overall development strategy and make full use of the company's resource advantages in real estate management, financial services and business partners to provide integrated and integrated services for high-quality customers in shopping malls, office tenants, hotel business guests, chamber of commerce entrepreneurs, high-end tourism customers, real estate owners and entrepreneurs. Realize the convergence and link between people and people, people and things, people and services, people and wealth. We judge:? Big asset management? It is a great opportunity for China in the future, and we are optimistic about the future growth of the company in this field. It is estimated that 16-18 EPS0.44/0.78/1.20 yuan, 15-18 compound growth rate of 137%, corresponding to the PE of 54.8, 30.9 and 20.1X, maintain? Buy? Rating.
Risk hint
The competition of commercial real estate intensifies; the profit falls short of expectations; there is uncertainty in the transformation.
