I have not say 035.HK is the best among property developers cos.
Now I also have 016.HK more than 035.HK, ... in terms of amount, not number of shares.
I think your abovementioned stocks are all relatively cheap if compare with their NAVs. If any one of them realises its assets and distributes the money to shareholders, I think most shareholders (certainly not all!) would be happy!
It seems you are weighing 035.HK as a "high risk" stock. Why? ... This is what I am interested to learn from your thoughts.
Just found out 878.HK had sold 2 properties in 2nd half year of 2018, for HK$0.467 billion and HK$0.53 billion, totalling HK$997,000,000 ... and net cash realised were totally HK$943,000,000 ... that means each share has more cash @HK$3.33/share !!!
They are all profit-generating companies and have been paying "quite good" dividends for years, ... though 257.HK had asked shareholders money months ago.
I have only a little 3988.HK ... < 1% in my portfolio.
Oh I forget I have 1288.HK also! ... but 1288.HK and 3988.HK together are only around 1.5% in my portfolio value.
I recognise 576.HK long before and had some trading experience with it. But this lot I am holding is in long run's thought since it is relatively much cheaper than 177.HK in valuation ... and looking for the recovery of China Stocks Market since 576.HK has securities businesses.
The problem of 035.HK is that it always issues new shares in lieu of cash dividends to the major shareholder, so that there are repeatedly profit/NAV "dilutions".
Although it is clear and fair (every 035.HK shareholder may choose shares in lieu of cash dividend), this policy makes short run investors feel "uncomfortable"! The result is that even some long run investors, like me, do not want to hold 035.HK.
I had already switched to 163.HK last week. (Mentioned above.)
For these assets/properties holding listed cos., they ought to be traded at NAV discounts (provided the NAVs are truly reflected their market values), otherwise investors would just want to hold cash instead of stocks.
And as there are plenty of these stocks, I think we have only to buy those "relatively lowest PB", and "relatively higher div. yield", and "relatively better managed".
^_^
What's more, I think we have also to consider the major shareholder/shareholders' shareholding %. The more close to 75% of its shareholding, the lesser is its chance of doing "unfair things" to us minority shareholders.
For those China properties developers listed cos., I think investors should be carefully considered their gearing ratios before making significant investments on them.
If 683.HK is successful in China market, most of those China Developers listed cos. will be successful as well. There are plenty of choices available. I have chose 3377.HK.
683.HK investments in China lands need 2-3 years for us to judge the management's wisdom. I regard it is full of uncertainty.
Good!
回覆刪除Let's see its interim results tomorrow ... especially its NAV.
^_^
我並不覺它特別平宜。
刪除我希望了解更多。
刪除Value Sir,
刪除Can you kindly explain why you feel 035.HK is not so "extremely cheap" stock? (In what criteria?)
^_^
如果大筆資金放下，我毫不懷疑選擇新地。
刪除不用說新地，如鷹君，邊方面佢比鷹君好？
當然股票方面，每人判斷不同，我不敢話你對或錯。
刪除Value Sir,
刪除I have not say 035.HK is the best among property developers cos.
Now I also have 016.HK more than 035.HK, ... in terms of amount, not number of shares.
I think your abovementioned stocks are all relatively cheap if compare with their NAVs. If any one of them realises its assets and distributes the money to shareholders, I think most shareholders (certainly not all!) would be happy!
It seems you are weighing 035.HK as a "high risk" stock. Why? ... This is what I am interested to learn from your thoughts.
^_^
我只是對它不太熟，它在港項目不夠規模。
刪除Value Sir,
刪除Not just HK businesses!
It have worldwide businesses!
001.HK; 005.HK; 035.HK; ... etc.
(Investors can easily study any local listed stock in aastocks.com before buy it. )
^_^
1,5地位特殊，我持長和不太多。
刪除無錯，我對他們海外業務所知不多。
In view of higher Dividend Yield and lower PB, it seems that "163.HK is better than 035.HK" presently.
刪除^_^
我亦持極少量英皇，兩者規模少，英皇較多香港資產。
刪除Value Sir and all long run value investors:~
刪除I think among all these low PB property holding stocks, 878.HK is the cheapest and has the greatest potential to be privatized.
^_^
The major shareholder of 878.HK is still repeatedly buying more shares in these few days.
刪除Let's see what will happen.
^_^
拭目以待，不過我對羅素街認識非常有限。
刪除!!!???
刪除Have you visited Times Square ?
^_^
上過佢商廈地舖，當然不代表知佢生意如何。
刪除但我很留意旅遊，零售，商舖的數據。
佢地段只可叫低位穩定，未及以往高峰期。
價值兄，歡迎加入35大家庭!
回覆刪除寄望中績再增派息!
我還要了解其國外項目，難度頗大。
刪除NAV折讓深的公司今時今日在港股多的是
回覆刪除關鍵是如何釋放價值, 例如本人看好長實多於新地恒地等, 並不是因為長實NAV特別大, 而是其策略是釋放價值, 靠不停換馬投資高回報項目達到目的
今時今日基金經理及投資者對地產股看法並不和以前一樣, 一個故事太長, 講到個資產幾錢但反映不到再業績上, 個故事吹到幾大都冇用
遠展在中小型地產商中表現不錯, 旗下帝盛酒店有一大批3-4星物業, 每隔1-2年遠展就會出售套現, 老實說遠展在中國及香港賣樓能力不高, 但奇在外國如澳洲及英國等均持有不少優質的發展中物業, 我知道澳洲當地有不少投資者有留意遠展, 最新業績顯示預售額不知道有冇記錯, 接近100億港元, 基本銷定未來數年的收入, 假設環球資產價格波幅不大, 我對未來幾年賣樓收入不悲觀
至於另一賣點為博彩業, 暴利行業, 雖然業績還未看到博彩的貢獻，但遠展若能營運賭場, 我相信有機會跳出地產估值範圍, 長期賣10-15x P/E或NAV大幅收窄, 並不是不可能
遠展是否最佳, 我不知道, 但我對它並不悲觀
我如你相反，愈不釋放價值對我更有利。
刪除所以我話每人判斷不一樣。
刪除佢好多瓣數，但資產不夠，是否能做得最好，我要很小心觀察。
刪除它派息很豐厚，有水份嗎
回覆刪除5厘，我唔覺特別厚。
刪除佢做收租，初部看唔太覺有古怪，但我需要多些時間研究。
Confidence comes from understanding!
回覆刪除(You haven't enough confidence since you don't understand it.)
uncomfortable comes from misunderstanding!
(I misunderstand it, so this time I feels uncomfortable.)
Luckily I had only 10,000 shares on 035.HK.
^_^
我比你更少股數。
刪除但我有興趣研究多點。
Very Good!
刪除Please tell us what you have found.
^_^
Value Sir,
回覆刪除I remember you had bought a little 878.HK. Do you still have it ?
I see its major shareholder (now 73.38% shareholding) always buying it.
I also see its NAV was HK$71.6 at 30Jun2018.
Now that it is trading at only 15% of its NAV !!!
Will it be privatized ?
Will it pay more dividends in coming years ?
^_^
基本我買入的極少會沽。
刪除佢近期無什麼動作，我不清楚佢大股東連翻增持，至於是否私有化，好睇佢大股東怎評價公司，因為佢D物業好特別，好難judge價值，否則我唔會買咁少，佢一向派息咁低，亦反映佢資產較另類，要非常小心。
I see its total shares are only 283,308,635.
刪除Excluding major shareholder 73.38%, public shares are only around 75,419,505 shares.
so that,
75,419,505 shares x @HK11.12 = HK$838,664,896 only !
It seems its quite easy to privatize it, even twice this amount.
^_^
Just found out 878.HK had sold 2 properties in 2nd half year of 2018, for HK$0.467 billion and HK$0.53 billion, totalling HK$997,000,000 ... and net cash realised were totally HK$943,000,000 ... that means each share has more cash @HK$3.33/share !!!
刪除^_^
派特息前增持盡，再私有化，即一仙都不用，搞掂。
刪除純粹:亂估
It seems great if the privatization price is much higher than present market price. (NAV = HK$71.60 at 30Jun2018)
刪除俾到$35 ok。
刪除^_^
刪除At this uncertain moment, just sharing:~
回覆刪除Two "cash cow" retail stocks :
113.HK & 398.HK
I am glad to see their glorious half-yearly financial results.
P.S. I have been holding the following local retail stocks in my investment portfolio :-
113.HK
398.HK
900.HK
^_^
Good luck!
刪除Just sharing :-
刪除For those China Enterprises, I have the followings in my investment portfolio now:-
257.HK
576.HK
811.HK
1800.HK
2238.HK
2666.HK
3377.HK
They are all profit-generating companies and have been paying "quite good" dividends for years, ... though 257.HK had asked shareholders money months ago.
I hope China can be more successful!
^_^
For blue chips, I have the followings only:-
刪除016.HK
700.HK
3988.HK
601318.SH(stands for 2318.HK)
^_^
For REITs, I have:-
刪除435.HK
778.HK
^_^
For low PB stocks, I have:-
刪除878.HK
373.HK
163.HK (just switched from 035.HK, because 163.HK had "lower PB" than 035.HK at 30Sep2018.)
^_^
For Tele-communication companies, I only have:-
刪除1883.HK
^_^
我持有你部份持股。
刪除但總的，我持有極多新地，以及頗多中行。
淅江滬都不少。
刪除淅江已買入很久。
016.HK is your No.1 and my No.2.
刪除I have only a little 3988.HK ... < 1% in my portfolio.
Oh I forget I have 1288.HK also! ... but 1288.HK and 3988.HK together are only around 1.5% in my portfolio value.
I recognise 576.HK long before and had some trading experience with it. But this lot I am holding is in long run's thought since it is relatively much cheaper than 177.HK in valuation ... and looking for the recovery of China Stocks Market since 576.HK has securities businesses.
^_^
其實，淅江主業仍是公路，不過佢大幅落後177。
刪除我亦持不少177。
I understand 576.HK and had read its 9-months results, but our market have taken into account its securities business as valuation basis.
刪除But no worry, it still had 10% profit growth at 9-months results.
More final dividends will be expected ... especially no interim dividend was paid before.
Have lunch first.
^_^
但我仍觀察其收入可否與通脹同步。
刪除My suggestions:-
刪除1. Read all announced news of all your holding stocks.
2. Do "stocks switching" flexibly.
3. Always be optimistic when holding stocks.
Good Night & Luck!
^_^
Value Sir,
回覆刪除Good morning!
It seems that December 2018 has a good "beginning" ... although I always don't think stocks investment had been "ended".
Good Luck to all your members.
Earning more!
^_^
我會很小心，我已爆倉，無意短期再入市。
刪除即使現金增加了一點。
Of course there is no need buying-in daily.
刪除...
You should have 016.HK's final div. @HK$3.45/share.
^_^
係，收到飽咗。
刪除Slow food !
刪除^_^
新聞有提供管理層希望重建帝盛部份酒店項目為商廈, 以提升公司資產值
回覆刪除也是另一個渠道去提高公司固定收入及釋放三四星酒店價值
如果找到市場需求，按步就班，我當然支持。
刪除083.HK is crazy is lands in lands bidding !
回覆刪除細雞嘢，未必輸，佢好有經驗，呢D離島屋仔。
刪除全城焦點應在觀塘大盤，食粥食飯靠佢。
佢無啟德，呢到係佢九龍東之旗。
刪除083.HK is selling Kwun Tong apartments @HK$17,XXX/sq.ft. while bought Lantau Island land at cost @HK$17,000/sq.ft. yesterday.
刪除I don't understand what the management are thinkings.
Luckily I have no 083.HK.
^_^
無問題，二個不同市場。
刪除觀塘是首批開價，不用擔心，我覺得開價OK。除非佢下批減價。
我持有大量信置。
Value Sir,
刪除I prefer all in 016.HK.
Good Luck!
^_^
最終決定在中銀月供2,3,11,12,384,823,1299,3968,慢慢累積收息股
回覆刪除12月11日開始
雖然非重倉，但你打算買的，我絕大部份都持有。
刪除下個月我月供埋華潤置地,太多人睇死中資股
刪除我持有它約2年，算是較佳的一批。
刪除作者已經移除這則留言。
刪除諗諗吓,都係持港股較為正路,1月月供2,3,11,12,270,384,823,1299,中資股1間起,2間止
刪除Value Sir,
回覆刪除My latest comment on 035.HK:-
The problem of 035.HK is that it always issues new shares in lieu of cash dividends to the major shareholder, so that there are repeatedly profit/NAV "dilutions".
Although it is clear and fair (every 035.HK shareholder may choose shares in lieu of cash dividend), this policy makes short run investors feel "uncomfortable"! The result is that even some long run investors, like me, do not want to hold 035.HK.
I had already switched to 163.HK last week. (Mentioned above.)
^_^
我不太介意以股代息。
刪除Not a "whole" lot, but in "pieces" !
刪除I don't like "pieces".
^_^
Just learnt 163.HK is selling a Yau Ma Tei hotel for HK$1,100,000,000, realising a profit of HK$746,000,000.
刪除Seems low PB assets-holding companies are not bad for us long run investors, provided the management/major shareholders are believable.
^_^
Just learnt 3377.HK's 11-months sales figures are not bad also.
刪除^_^
明白，碎股。
刪除佢哋book得好低，又有PB折讓，如果有合理派息便更好。
刪除大多數內房營運數據無大問題。
刪除For these assets/properties holding listed cos., they ought to be traded at NAV discounts (provided the NAVs are truly reflected their market values), otherwise investors would just want to hold cash instead of stocks.
刪除And as there are plenty of these stocks, I think we have only to buy those "relatively lowest PB", and "relatively higher div. yield", and "relatively better managed".
^_^
What's more, I think we have also to consider the major shareholder/shareholders' shareholding %. The more close to 75% of its shareholding, the lesser is its chance of doing "unfair things" to us minority shareholders.
For those China properties developers listed cos., I think investors should be carefully considered their gearing ratios before making significant investments on them.
刪除^_^
合和私有化已可證明。
刪除新地係值$200，我會在此水平持續買入。
我買入的內房多是財政較健全。
刪除嘉里，中海外，華潤等。
I think 016.HK would not be privatized.
刪除HK$200 is just for investors reference.
4.50~5.00%(2018/19) dividend yield is quite good for blue chips, but may not be the "best return" in considering of "share price and dividend".
^_^
688.HK & 1109.HK are blue chips, my opinion is neutral. Their performance would be quite close with our HS Index.
刪除683.HK had repeatedly bought some lands in China over past 1 year. Watch out!
^_^
我很滿意新地派息。
刪除其實，我對公司私有化期望亦不大，只要有盈利有派息便足夠。
嘉里算是主動投入國內的物業發展商，我仍未覺其國內業務拖垮集團槓桿。
刪除但我仍會密切觀察。
If 683.HK is successful in China market, most of those China Developers listed cos. will be successful as well. There are plenty of choices available. I have chose 3377.HK.
刪除683.HK investments in China lands need 2-3 years for us to judge the management's wisdom. I regard it is full of uncertainty.
^_^
嘉里已在國內投資了很久。
刪除內房已出現多間龍頭企業，亦打進恒指成份股，不能否定此產業，不過時代會變，它們亦紛紛開拓其他業務。
You are all right.
刪除But in order to maximise investment returns/minimise investment losses, I like to buy those "most valuable" stocks.
^_^
I am glad for I am focus in holding "relatively better" stocks, doing "stocks switching" when necessary, and forgetting the HS Index at all times.
回覆刪除Good night and luck!
^_^
祝好運。
刪除Good Lucks to Value Sir!
刪除^_^
Hello 想請教下value sir ,我看過長實1113 和新地16 的財表，新地的商場收入比領展和1113 仲高。如果想問抗跌力和爆炸力，1113 和16 邊個會好啲？其實我持有1038，1113 和小量16 。但覺得1038 和1113越來越似。但好似1113 中環收租物業比16 優質。可否提供見解？. Thx thx
回覆刪除長地跟新地行的策略有不同，長地行咗少少去基建，及英國房地產，又賣資產，如果樓市急劇下跌，佢反手動力可以不錯。
刪除相對新地，新地亦不錯，佢都好小心，賣樓又出色，買入地皮不算太急進，附加農地轉換，二間都唔差。
現實下，我持有新地遠遠遠多於長地。
刪除1113走咗少少基建，以我估計此刻，亦未算substantial。
刪除1113，無論邊方面計，未及新地的級數。
刪除新地超班第二三四位多聲。
Thx thx. 16的股息相對吸引過1113 .希望佢唔好升得太快至120$ 可以慢慢收集
回覆刪除我還要買多少少。
刪除I am glad that China has been selling US Bonds over past months, though a little only.
回覆刪除^_^
好正常，趁現在仍低息時，加上某程度對貿戰作表態。
刪除