An overview of investment
On December 23rd, the transaction with TCL was actually a collection of real estate services from TCL through bonus + stock rights, with a total cost of HK $3.1 billion. The core assets of the company are four commercial and housing property projects located in Huizhou City, Hubei Province and Huizhou City, Hubei Province, with a total construction area of 1.2 million square meters. We believe that this closing is positive for the company and will help to improve the company's market share in these two cities and secure an adequate and stable cash flow from sales.
As for the financial strength, as all payments are made in four installments, our view is that the payment is at a controllable level. In addition, I would like to express my appreciation for the level of operational control shown by the bulk returns before the transaction and the overflow of shares in the transaction over the past few years.
In early December, I joined the reverse roadshow of Fancy year, and had some concrete feelings about Lottery Life, mainly including: the improvement of property management, the decline of labor costs; the active exploration of Lottery Life in the new profit model, especially represented by APP in the community; and the rich experience and good status of Lottery Management.
On the whole, Lottery Life is changing from a property management company to a community service company, and the customers not served by Lottery Life will become an important resource for the company, and the increase in customer volume and stickiness will be the most significant value for the company. Color Life is expected to be split in the first half of 2014. The new business model and rapid growth will make lottery life in the valuation zone different from private housing stocks and ordinary property management companies. We hold strong views on their business prospects and valuation.
At present, the year of spending is entering the closing time of selling 10 billion yuan at the end of the year. In December, projects in Singapore, Guilin, and Chengdu will provide a number of new housing supplies for the sale of houses, especially the first project in Singapore, which is worth more than 1 billion yuan, which is of great significance to the completion of sales by the end of the year. In addition, during our visit to Guilin, we found that the city of Guilin had great strength and expansibility, and the development of the project in Guilin New area was promising. We expect that the annual sales volume of 2013 will reach 10 billion as scheduled, laying an important foundation for sales and market capitalization growth in 2014.
Huayian is a special company among its peers. It has a unique commercial positioning, while ploughing the Shenzhen market, the company has developed and achieved continuous success in many second and third cities in the Pearl River Delta, Chengdu-Chongqing and Yangtze River Delta areas. and continue to win more market shares. In addition, the company's successful expansion in community services has increased the value of the company. Over the years, through differential products and special community service model, it is different from most of the internal housing companies.
Differentiated products and new business models help the market to enhance the identity of the company's business value, and play a positive role in raising the valuation. We believe that 2014 is equipped with a variety of fundamental catalysis, which constitutes a positive boost to the industry. Our target for the last year has reached HK $1.80, and we have reached the "level" level for the year of Flower.