Market review:
From January 17, 2022 to the closing on January 21, 2022, the Hang Seng property sector rose 14.48%, the Hang Seng Index rose 2.39%, and the Hang Seng property sector outperformed the Hang Seng Index by 12.09pct. From the perspective of sector ranking, compared with other sectors, it ranked first in the 13 sectors of Hang Seng comprehensive industry.
The top 40 stocks with a + H market value were screened, and the top five were:
The top five stock price increases were Xincheng Yue service, Hejing Youhuo, rongwanjia, Shimao service and Jinke service.
The top five stock price declines were Shenzhen Sdg Service Co.Ltd(300917) , Nacity Property Service Group Co.Ltd(603506) , China Merchants Property Operation & Service Co.Ltd(001914) , Kangqiao Yuesheng and Zhongjun business management.
Fund tracking:
Shanghai (Shenzhen) stock connect
Among A-share property companies, only China Merchants Property Operation & Service Co.Ltd(001914) holds shares in the Shanghai (Shenzhen) stock connect. As of January 21, 2022, it holds 14.71 million shares, an increase of 20.5% over last week, with a market value of 264 million yuan. Hong Kong stock connect
Hong Kong stock China Hong Kong stock connect holds a total of 19 shares. The biggest increase this week is rongchuang service, with an increase of 8.56% this week. The biggest drop was China Resources Vientiane life, down 2.51%. The highest shareholding ratio is poly property, which is 63.1%. The largest number of shares held by Evergrande property, 741 million shares.
Important industry news:
China Resources Vientiane life acquired the equity of Zhongnan service over RMB 2 billion
China Resources Vientiane life acquired Zhongnan Service Commerce Co., Ltd. at a price of no more than 2.26 billion yuan. According to the prospectus after the hearing of Zhongnan service, based on the rough calculation of the after tax net profit in 2020, the acquisition price is about 14 times the after tax net profit in 2021.
Zhongnan service is a comprehensive property management service provider deeply rooted in the Yangtze River Delta and has established a national strategic layout. It serves many regions in China, such as Jiangsu Province, Shandong Province, Zhejiang Province and Sichuan Province. It has a total area under management of 51.47 million square meters, a total contract area and an area in transit of 39.41 million square meters. It is expected that the area under management will reach more than 90 million square meters within five years.
Central bank: cut LPR every 20 months
On January 20, 2022, the central bank announced on its website that the people’s Bank of China authorized the national interbank lending center to announce that the quoted interest rate (LPR) of the loan market is: 1-year LPR is 3.7%, and more than 5-year LPR is 4.6%. The above LPR is valid before the next LPR release.
Important announcements of the company:
Poly property: the main members changed, chairman Zhou genshuang and director Wu zhaobing withdrew, and Wang Xinlei was appointed as
Chairman, Wu Bin was appointed as a director. Meanwhile, the legal representative of the company was changed from Zhou genshuang to Wang Xinlei.
Shenzhen Sdg Service Co.Ltd(300917) : Mr. Yang Hongyu resigned as a non independent director of the second board of directors of the company due to work reasons, and also resigned as a member of the audit committee of the second board of directors of the company.
Investment strategy and key recommendations: the material and enterprise sector rebounded sharply this week, and the direct driving factor was the reduction of LPR. China Resources Vientiane life acquired Yuzhou property for 1.06 billion yuan and then acquired the equity of Zhongnan service, further integrating the industry. Continue to be optimistic about the property sector, the industry concentration will increase in the future, and the head property management company will continue to develop rapidly.
Risk warning: the risk that the market development is not as expected; Risk of insufficient collection of property fees; The epidemic control was less than expected.
