The property sector continued to pick up: last week, the H-share property index of northeast real estate closed at 543098 points, up 5.41% in total; Over the same period, the Hang Seng Index rose 4.11% and the Hang Seng Composite Index rose 3.99%; Last week, the Northeast real estate A-share index closed at 149675, up 0.5%, the Shanghai and Shenzhen 300 rose 2.23% and the Shanghai Composite Index rose 2.02%. The top three property management companies that rose last week were Zhongjun business management (+ 11.43%), Yincheng life service (+ 11.11%) and Xuhui Yongsheng service (+ 10.65%).
Last week, poly property, country garden service, Xuhui Yongsheng service, Jinke service, Shimao service, rongchuang service, Hejing Youhuo, ya life service, Evergrande property and excellent business services were increased by Hong Kong stock connect, with rongchuang service increasing the most. As of last week, the shareholding ratios of poly property, country garden service, Xuhui Yongsheng service, Jinke service, Shimao service, rongchuang service, Hejing Youhuo, ya life service, Evergrande property and excellent business enterprise Service Hong Kong stock connect were respectively
\u3000\u3 Fujian Yongan Forestry (Group) Joint-Stock Co.Ltd(000663) 2%/8.41%/11.65%/12.77%/10.25%/12.95%/1.05/1.44%/7.46%/4.53%。
Among them, rongchuang service gained the most Holdings (+ 1.02%) during the week.
Company dynamics: last week, Jinke service purchased shares according to the incentive plan; Rongchuang serves to repurchase shares of the company in the open market.
Industry news: last week, Tibet issued property service evaluation standards; JIAYE Investment Holdings transferred 100% shares of shared home elderly care services.
Investment suggestion: last week, the trustee of Jinke service share incentive plan purchased 1.5 million shares of the company in the open market, accounting for 0.23% of the total share capital of the company, with an average price of about HK $20.59 and a total price of HK $30.88 million. After purchasing the shares, the trustee’s total shareholding reached 0.51%. In September last year, the company said it would establish a trust and instructed the trustee to purchase about 2% of the company’s total share capital from the open market from time to time for subsequent share incentive plans; Since then, the company has repeatedly purchased shares in the open market through the trustee, and the trustee has held 0.28% of the shares of the company before this purchase. The company’s share incentive plan continues to be promoted. It is expected that the share incentive will further strengthen the company’s binding on talents, especially stimulate the enthusiasm of employees in the fields of bidding and expansion of value-added services, and boost the company’s performance growth. We suggest that we should pay attention to the market-oriented external expansion ability and single site optimization potential in the medium and long term, and be optimistic about China Resources Vientiane life, country garden service, Xuhui Yongsheng service and Baolong business; In the short term, it is necessary to assess the credit risk impact of related parties, supplemented by the consideration of valuation and cost performance, and be optimistic about poly property, xinchengyue service and China Merchants Property Operation & Service Co.Ltd(001914) .
Risk warning: the price increase of property management fee is blocked; External expansion is less than expected; The expansion of value-added services was less than expected
