Pan Hong    Last:0.094    -0.004

Tapping the markets in Southern China

Is something brewing with this counter?? I see big buy ups recently...

 

Is it good time to buy now???

Pan Hong

DMG keeps rating; raises price target from 65 cents to 85 cents,
pegged at 10 per cent premium to NAV.

It notes the property developer recently bought a new site in Nanchang
and says the land bank expansion should allow Pan Hong to benefit
from resilient housing demand in China's lower-tier cities. It increases
the NAV estimate to 77 cents from 65 cents to factor in new site.

Jan2010

 

Pan Hong

DMG keeps rating; raises price target from 65 cents to 85 cents,
pegged at 10 per cent premium to NAV.

It notes the property developer recently bought a new site in Nanchang
and says the land bank expansion should allow Pan Hong to benefit
from resilient housing demand in China's lower-tier cities. It increases
the NAV estimate to 77 cents from 65 cents to factor in new site.

Jan2010

 

Pan Hong

DMG keeps rating; raises price target from 65 cents to 85 cents,
pegged at 10 per cent premium to NAV.

It notes the property developer recently bought a new site in Nanchang
and says the land bank expansion should allow Pan Hong to benefit
from resilient housing demand in China's lower-tier cities. It increases
the NAV estimate to 77 cents from 65 cents to factor in new site.

Jan2010

 

Hi There

Is there anything brewing for this counter today vol 14 millions

 

des_khor      ( Date: 18-Dec-2009 10:38) Posted: This one kenal P&D..

 

This one kenal P&D..

 

Anyone knows about this share, CB about 3 in 10?

 

Any comments from this share? Thanks!

 

Updated: 7th September 2009, 0755 hrs

Pan Hong to offer close to 173 million warrants to raise S$114mil

Singapore-listed Chinese property developer, Pan Hong, said today that it will offer some 172.8 million warrants to raise about 114 million dollars. It intends to use the proceeds for the expansion of its property portfolio and general working capital purposes. Pan Hong is issuing a warrant for every 3 existing ordinary shares. Each warrant will carry the right to subscribe for 1 new ordinary share at an exercise price of 66 cents. At that price, each warrant represents a premium of about 3.1 percent to Pan Hong’s last closing price of 64 cents. If the warrants are fully exercised and converted into new shares, the issued share capital of the firm would increase by 172.8 million shares. That represents about one-third of Pan Hong’s existing issued share capital

 

 

 net profit improved 100%from 5.012m to 10.237, it should move today


http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_7F3FC6C4CBCE847E4825760F003FA4C5/$file/Result_announcement_FY2010_Q1.pdf?openelement

 

Updated: 30th July 2009, 0850 hrs

Pan Hong acquires land in China for S$46.7mil

Singapore-listed Hong Kong-based property developer Pan Hong said today that it has acquired a land parcel in China’s Huzhou city for 46.7 million dollars. The site will be used for the development of residential and commercial properties. Located in Zhejiang province, the 103 thousand square metres site is estimated to yield a total gross floor area of around 216 thousand square metres. Construction for the project is expected to begin in the first half of next year. Pan Hong says the acquisition will be financed using its internal resources and borrowings. The company says it is not expected to have a material impact on its earnings and net tangible assets for the financial year ending March 2010.

 

Recovering property sector sweetened by new acquisition, reiterate BUY.
We met up with Pan Hong Property Group’s (Pan Hong) CEO to discuss its
strategy ahead and recent acquisition of a warehousing facility in Shanghai’s
strategic petrochemical port. Management is now seeing more concrete signs of
recovery and improved buying sentiments in several lower tier cities, best
evidenced by its 256 units sold in 52 days. Aside from business diversification,
management is looking at the recent acquisition as an additional stream of
recurring income. Looking forward, management intends to focus its business
on lower tier cities and increase recurring income streams. At present, its
landbank remains massive at 2.4m sqm across five cities, which should ensure
healthy medium-long term profits. Balance sheet remains strong with net
gearing of 0.17x. Our new fair value of S$0.50 (S$0.43 previously) assumes
new achieved prices for Hua Cui Ting Yuan, pegged at a lower 20% (30%
previously) discount to RNAV due to more concrete signs of a recovering
property sector.

DMG 24Jul2009

 

Report from CIMB.

1Q result will be immaterial as completion to come in 4Q. Pan Hong is going to announce its 1Q08 results next week. Core earnings are expected to be insignificant as most of the company's property projects will only be presold starting from 3Q08 and booked in 4Q08. FY08 earnings will be mainly derived from 4 projects, including Honggu Kaixuan Ph2 in Nanchang, Huacui Tingyuan and Liyang Jingyuan (both in Huzhou), as well as Liyang Yuan in Hangzhou. Based on the existing development progress, these projects will only be launched in Aug/Sept 08, we therefore do not expect Pan Hong to recognize any significant earnings until 4Q08.

We have trimmed our FY08-09 earnings forecast by 3% to reflect a 10% increase in construction cost due to higher raw materials costs. Separately, we have chopped our FY10 earnings forecast by 47% as we now assume a more conservative completion schedule - the completion of 647k sq m in FY10 versus our previous estimates of 1,046k sq m.

To be more conservative, we have taken out the Beihai project from our NAV calculation as this project is still in negotiation stage. To reflect the revised property schedule and the increase in construction costs, we lowered our NAV estimates from $1.21 to $0.94.

While we downgraded our FY08-10 earnings, Pan Hong's earnings momentum remains strong at CAGR of 58.6% for FY07-10, fuelled by the surge in completion and the low land cost. With a strong earnings momentum and an attractive valuation of 3.2x CY08 earnings, we keep our OUTPERFORM recommendation. However, we lower our target price from $1.21 to $0.66, reflecting the de-rating of the sector and lower near term earnings visibility as most of its projects will only be presold in 3Q08. We now peg our target price at 30% discount to our revised RNAV.

 

Details for Pan Hong. http://www.freewebs.com/henryhts.

 

 

Hope the new projects and sales can give the stock a boast. Volume has been drying lately due to bearish market.


 

 

Pan Hong Property Group acquires a site in Fuzhou City, Jiangxi province, through tender. The aggregate land area is 190,754 sq m with a planned GFA of 476,885 sq m. The total consideration is Rmb210m, which translates into an accommodation value of Rmb431/sq m. Pan Hong will finance this acquisition by the proceeds from the recent share placement and its internal resources. The project is planned to be developed as high-end residential and commercial properties, comprising 476,885 sq m of residential units and around 10,000 sq m of commercial units. For the commercial portion, Pan Hong has signed a letter of intent with one of the PRC's top 50 commercial and retail enterprise for jointly development.

 

Teresa,

You are welcome. I just created a website and I will update some stock picks daily. Your precious are welcomed.

http://henryhts.multiply.com/

 

 

henry$$$, lucky I cut loss early if waited  till today bigger lost. got out last week. Thanks for the warning.

 

Teresa,

You still sold at considerbly high price.

All its coouterpart price keep droping, but it counter rather stable!

However, cut stake, no rebounce signal till now.

 

Henry$$$, I'm out already - cut loss. Bought on the high side. What's the negative news?

This counter seemed to hold quite well over the last few days. Didn't drop too much unlike YZJ.