I am holding to the 3.10, the comment about splitting shares was euphemestic. I did not want to insult all those holding DGAZ straight up. So to clear things up, I will buy DGAZ at 31 flat even. No more no less.
Polar vortex is cycling, Midwest will get blasted again and again through February at least. Playing with fire here by shorting. Buying feeds on itself. Get on board.
For the six months to June, Hopefleunt has generated a year on year 0.4 per cent down profit to HK$126.74 million in primary market. Its earnings from secondary market were HK$19.89 million, from a lost of HK$3.03 million a year ago.
Shenzhen World Union, listed on the Shenzhen stock exchange, has announced it will spend 35.5 million yuan to acquire the remaining 71 per cent of subsidiary World Union Finance. E- House (China), which is listed in New York, has teamed with mainland banks to offer financial services.
Shenzhen World Union said on its website that it brokered 300 billion yuan worth of property transactions last year, accounting for 4.5 per cent of the market.
With buyers requiring higher down payments, observers said Shenzhen World Union could refer large numbers of clients to seek financing from World Union Finance.
#$%$ said microcredit companies were prohibited from lending more than 5 million yuan, with interest rates capped at four times the bank lending rate, currently 5 per cent a year.
“Some of our clients will take loans for up to six months,” he said
The mainland’s major property agents have extended their reach to the microcredit business as they seek new income sources after government curbs caused a slump in sales in the secondary residential market.
Hong Kong-listed property agency Hopefluent, which operates 280 outlets across the mainland from Guangzhou to Urumqi, formed a joint venture company last month offering short-term loans to its clients, following in the footsteps of rivals such as Shenzhen World Union Properties Consultancy and E- House (China).
Home sales in the secondary market in most mainland cities have tumbled by as much as 40 per cent since Beijing barred purchasers from buying more than two homes.
“We lent out 100 million yuan (HK$128 million) right after our venture secured approval from the mainland authorities,” Hopefluent chairman #$%$ Wai-chung said....Hopefluent said it had handled 62,500 primary property transactions with a total value of HK$67 billion in the six months to June last year, and 20,600 secondary transactions.
“With a large client base, we need to provide more value added services to our clients,” #$%$ said.
Alan Chiang Sheung-lai, the head of residential property at consultancy DTZ Greater China, said he expected demand for short-term loans, which facilitate the completion of property deals, to grow.
“Sellers will redeem the title deeds once they find buyers,” he said. “On the mainland, real estate transactions are not commonly carried out by lawyers who ensure the money is transferred to sellers and that buyers pay the balance on time.”
To play safe, Chiang said buyers would pay the balance only when the title deeds were ready to be transferred to the purchasers’ name.
At the same time, tighter lending rules would force some buyers of new homes to turn to finance companies for top-up mortgages, he said.
Banks capped the loan-to-value ratio at 50 per cent for first-time buyers in the secondary market, and at 30 per cent for purchases of second homes, he said.
In addition, mainland banks would take months to process mortgage loan applications, Chiang said, so buyers of new homes would also need bridging loans.
Citi and Morgan say let's put this behind us.....................Citi analysts Muzhi Li, Ravi Sarathy and Gregory Zhao said “the latest development should restore investors’ confidence in these stocks. Therefore, we anticipate a rebound of their stock prices. We also think the move would lead to a final resolution between the SEC and CSRC to jointly audit Chinese listcos, and have them subject to the US securities regulations.”
Morgan Stanley analysts Philip Wan and Timothy Chan commented the share selloffs provide buying opportunities and investors should buy into companies with either potential earnings upside or a long-term positive outlook.
Top Chinese stocks including Baidu (BIDU), Qihoo (QIHU) and SouFun (SFUN) climbed Tuesday, after the Securities and Exchange Commission and Deloitte's Chinese unit resolved a long-running dispute.
The SEC had sued to obtain documents related to work the accounting firm did for Longtop Financial Technologies, a Chinese company that's being investigated for fraud.
But the Deloitte agreement late Monday may help pave the way for a resolution of a separate SEC complaint against the Chinese joint-venture operations of Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, potentially giving investors more clarity into financial data of Chinese stocks.
On Monday, the SEC and Deloitte filed a joint motion to have the agency's two-year-old lawsuit against the accounting firm dismissed. The SEC said its move for dismissal came after Chinese regulators turned over documents it's sought in the Longtop Financial investigation, negating the need for a suit to enforce a subpoena seeking documents from Deloitte.
Morgan Stanley analysts said the pullback in China stocks after last week's SEC judge ruling also provides a buy opportunity for some stocks.
I own both as well. With their online ecommerce they have both made huge strides and appear to be dominating their respective fields.
SFUN is 1.06 for Dec and .63 for Mar. EJ is .22 and .07. They start their Spring Holiday (which lasts a week I believe) this Thursday. People go visit families in the first quarter. Action is down. Historically very slow always.
Note last year SFUN made .40. This year the forecast is .63. This is outstanding growth. Last year EJ made .03, this year they forecast more than double to .07. Note also this is only one analyst. I think this analyst missed the Ecommerce boat and this number will be larger. Maybe a near tripling in NI from the previous year. Now THAT is growth.
I believe EJ's record is around .35 for one Q....they are projected at .22 and may beat this. At the time they hit .35 the stock was in the 30's. Keep that in mind.
EJ does not sell too many pre-owned but is big in Luxury. Major commission intake obviously for them with these higher priced homes. The thesis is still the same, no major governmental interference still at this point.........................................................Sales of pre-owned homes rose to an eight-year high in Shanghai in 2013, with robust sentiment prevalent in the luxury sector, market data at the weekend showed.
The purchases of these homes totaled 293,000 units last year, up 58.8 percent from 2012, Shanghai Deovolente Realty Co said in its latest report. The number of homes costing over 8 million yuan (US$1.32 million) sold rose to 2,119 units from 920 units sold in 2012.
Citywide, 756 units costing over that price were sold in the Pudong New Area last year, followed by 329 units in Changning District and 215 units in Minhang District, Deovolente data showed.
"The surge of luxury home sales indicated growing optimism among homebuyers as the overall real estate market rebounded significantly over the past 12 months despite government curbs to rein in speculation," said Lu Qilin, a Deovolente researcher.
"It is no surprise that luxury homes were highly sought after since their location and quality made them both a good and safe investment."
Luxury homes in Huangpu District were sold at the highest average price of 77,007 yuan per square meter last year, according to the data.
Shimao Riviera Garden in Pudong's Lujiazui area was the most popular project in Shanghai when 114 pre-owned units priced at more than 8 million yuan each were sold last year.
aloraaa, insults aside, barring a clampdown from the govt., if the company trades off only its numbers 16 will be in the rear view mirror in 3 months. my opinion only. but i have seen the housing stats out of shanghai and there will be a reckoning, again, with a caveat on governmental policy.
I have seen it drop 30% in like amount of time. Barring any further negative press on the Auditing front, I think 30% might max it out. Perhaps 35% should this issue get more negative ink.
Conflict has arisen. EJ will have a record-setting 1st Q versus the battle between how the US and China interpret auditing rules has put a damper on all US-listed Chinese equities.