Soufun-chinesische Immobilien-und Finanzseite

da sich bisher niemand dafür interessiert hat,hier mal die letzten Entwicklungen bei SFUN:

Chinese online real estate site Soufun (SFUN) raised its 2013 full-year revenue growth guidance by a substantial amount, prompting Citi to raise its Buy target price from $56.3 to $71.4. Shares in Soufun last traded at $51.4, giving this target price a 39% upside.

On revenue growth, Citi analysts Ravi Sarathy, Gregory Zhao and Muzhi Li wrote:

Revs up 45% yoy, to $185mn, beat Citi by 21%, driven primarily by: (1) Listing Services up 128% yoy, to $46m, vs Citi’s $38mn; (2) SF Card up 94% yoy, to $50mn, vs Citi’s $33mn.

’13 guidance significantly raised to 40.6%-42.9% yoy growth from previous 25.0-27.5%, indicating 25.0%-31.8% yoy growth in Q4.

We increased our rev for 2013E/14E/15E by 10%/6%/4%, respectively.

The $71.4 target price implies a PEG of 0.85x, using Citi’s estimates. If Citi’s outlook is accurate, this valuation is not demanding considering: 1) well, it is less than 1; 2), China Internet sector trades at an average ratio of 1.

For U.S. investors, Soufun is a play on their views of  China’s property market. Chinese city home prices have been on the rise every month this year. Some investors are worried the government may start heavy-handed intervention again.

http://blogs.barrons.com/emergingmarketsdaily/...uy-raise-tp-to-71-4/

  Auditor:§Ernst & Young Hua Ming LLP laut yahoo

SouFun Holdings Ltd. (NYSE: SFUN [FREE Stock Trend Analysis]) announced today that its financial services platform "SouFun Financial Services Channel" will be up and running on the 16th of this month.

"SouFun Financial Services Channel" will focus on bringing third party financial products and services to SouFun's rapidly increasing home buying members, SouFun certified agents across major cities of China, and developers and home improvement products and services providers. SouFun is also working with qualified financial institutions to launch joint financial products specifically catered to SouFun's members and clients nationwide. In the longer run, SouFun will develop its own financial products pending on China's regulations to support its full-service eco-system of "everything home online."

"SouFun has accumulated over 15 million registered home buying members, over 500,000 certified active agents who are helping property buyers and sellers, plus more than 10,000 developer and home improvement clients. SouFun has been increasingly approached by them for dedicated financial products and services including home mortgage, home insurance, escrow equivalent service, bridge loan, consumption loan, and home equity loan," said Vincent Mo, Executive Chairman of SouFun.

Read more: http://www.benzinga.com/news/13/12/4119808/...;Fid=SFUN#ixzz2mLDB0yuT

 

auf deutsch
http://www.it-times.de/news/nachricht/datum/2013/...stungs-plattform/

BEIJING (IT-Times) - Seit über einem Jahr zeigt das chinesische Immobilienportal SouFun ein rasantes Wachstum. Ergebnis und Umsatz wurden beinahe jedes Quartal im Vergleich zum Vorjahr verdoppelt. Das aktuelle Quartal ist dabei keine Ausnahme.

Im dritten Quartal 2013 stieg der Umsatz von SouFun im Vergleich zur Vorjahresperiode um 45,4 Prozent auf 185 Mio. US-Dollar an. Im gleichen Zeitraum erwirtschaftete SouFun ein operatives Ergebnis von 110,6 Mio. Dollar, das rund 65,5 Prozent über dem Ergebnis des Vorjahres lag. Gleichzeitig wuchs das Nettoergebnis auf 102,7 Mio. Dollar, was einem Wachstum von 108,9 Prozent entspricht. Damit verdoppelte sich das Ergebnis je Aktie auf 1,22 Dollar. Der Cash-Flow aus dem operativen Betrieb wuchs um 123,7 Prozent auf 126,3 Mio. Dollar im Vergleich zur Vorjahresperiode.
http://www.it-times.de/news/nachricht/datum/2013/...-die-schallmauer/  

http://www.nasdaq.com/symbol/sfun/real-time  

http://www.nasdaq.com/article/...in-session-tale-of-the-tape-cm306960  

...Chinese stock SouFun Holdings (NYSE: SFUN  ) moves up into our list of big winners today with a sterling 10.6% gain. SouFun, with its 150% year-to-date gain, has been one of China's best bets in a year when Hong Kong's Hang Seng stock index has gained a mere 2.4% on the year -- and only because of a big rally over the past few months to counter the plunge from the first half of 2013. SouFun, an online real estate servicer, has capitalized on China's urban housing boom for its gains, and it's not stopping there. The company announced today that it will launch its financial services channel on Dec. 16 for its real estate customers. While some economists have been downbeat on the sustainability of China's home price explosion, as long as Chinese citizens continue flocking to the country's growing urban sprawls, SouFun and other real estate companies should continue to see big returns.
http://www.fool.com/investing/general/2013/12/02/...um-are-today.aspx  

....this latest move by SouFun actually looks quite logical and shrewd, since the company’s core real estate business already has very close ties with the traditional financial services industry.

SouFun is one of China’s more overlooked U.S.-listed companies, largely because it’s one of the few players in the real estate services sector and has few publicly listed peers. But that said, it’s also one of China’s largest listed Internet companies, boasting a market cap of nearly $6 billion — a threshold that only about a dozen other online peers can match. Much of that value has come over the past year, as SouFun’s stock has risen nearly 5-fold over that period as positive investor sentiment returned to shares of China’s Internet leaders.

SouFun’s surge includes an 11 percent rise in its stock in the latest trading session after it announced its new financial services play.According to the announcement, SouFun will initially offer financial products from various third-party business partners over its popular real estate services platform. (company announcement) It will later expand those offerings by providing its own financial services at a later date. The move comes as e-commerce transaction volume over SouFun’s platforms grows dramatically, from just $3.6 billion in 2011 to an estimated $25.8 billion this year......
SouFun’s move into financial services looks well planned and could provide a major new revenue source, but will also expose the company to big risk from real estate bubbles.

SouFun’s move into financial services looks well planned and could provide a major new revenue source, but will also expose the company to big risk from real estate bubbles.  

http://seekingalpha.com/article/...l-services-rush?source=google_news  

touched a 52-week high of $72.65 following the company’s announcement that its SouFun Financial Services Channel will be active from Dec 16, 2013.With respect to earnings performance, SouFun delivered positive earnings surprises in three of the last four quarters with an average beat of 34.9%. In the last reported quarter, SouFun posted impressive results delivering a positive earnings surprise of 31.4%. Results were 66% ahead of the year-ago earnings. The better-than-expected results were primarily driven by a sturdy top line that improved 45% year over year.

On the back of solid progress, the company raised its top-line expectation for 2013. It now expects to generate revenues in the range of $605-$615 million, up from $538–$548 million guided earlier. The new guidance represents a year-over-year improvement of 40.6% to 42.9%.

These positives led the company to witness rising estimates. The Zacks Consensus Estimate moved north by 3.6% to $2.87 per share over the last 60 days, as most of the estimates were revised upward. For 2014, the Zacks Consensus Estimate inched up 1.2% to $3.47 per share over the same time period.

SouFun intends to remain focused to explore new lines of business. We expect this endeavor to enhance its operational performance besides helping it to achieve long-term objectives and enhance shareholder value. The long-term expected earnings growth for the company is 36.5%.

Valuation for SouFun looks attractive. Although the shares are trading at a premium to the peer group average on a price-to-book basis and also on a forward price-to-earnings basis, return on equity is significantly higher than the return of the peer group. Also, the 1-year return from the stock came in at 233.4%, much ahead of the S&P’s return of 27.2%......
http://www.zacks.com/stock/news/115861/soufun-shares-hit-52-week-high
 

BEIJING, Dec. 3, 2013 /PRNewswire/ -- SouFun Holdings Limited (NYSE: SFUN) today announced that it proposes to offer up to US$250 million in aggregate principal amount of convertible senior notes due 2018 (the "notes"), subject to market conditions. The notes are to be offered and sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, ....

The Company plans to use the net proceeds from this offering for general corporate purposes, including new products and services, working capital, capital expenditures, business expansion and potential acquisitions.  

The notes, the ADSs deliverable upon conversion of the notes and the Class A ordinary shares represented thereby, have not been registered under the Securities Act, or any state securities laws. They may not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers .....
http://www.ariva.de/news/...Convertible-Senior-Notes-Offering-4865731  

.....The company initially will offer third-party fin'l products on its popular site. Later, it will expand by providing its own fin'l services. Volume of e-commerce transactions on SouFun's platforms has grown from $3.6 bil in '11 to an estimated $25.8 bil this year.

http://finance.yahoo.com/news/...n-debut-finl-services-235100822.html  

http://www.nasdaq.com/symbol/sfun/real-time
wg #9  

SouFun Holdings Limited (SFUN) is offering 2.00% convertible senior notes worth $350 million. Additionally, the initial purchasers will be provided with a 30-day option to buy up to an additional $50 million principal amount of notes.The proceeds from the 5-year debt will be deployed for working capital requirements, meeting capital expenditure, funding business expansions, acquisitions and introduction of new businesses or services, and other general corporate purposes.

SouFun expects to close the transaction on Dec 10, 2013. The new issuance will require the company to pay interests half-yearly, once on Jun 15 and then on Dec 15 every year, starting from Jun 15 next year.

As of Sep 30, 2013, the debt-to-capital ratio for SouFun was 0.58x which represented an improvement of 7 percentage points from 0.65x at 2012 end. However, with the issuance of the $350 million debt, the debt-to-capital ratio is expected to deteriorate.

The new issuance would require SouFun to pay an annual interest of $7 million. Nevertheless, the company’s solid operational performance generates funds adequate enough to service the debt uninterruptedly. Its interest expense in the third quarter of 2013 increased 28.5% year over year to $3.6 million which is expected to increase further, with the issuance of the debt.
http://finance.yahoo.com/news/...n-prices-senior-notes-190006434.html  

announced the completion of its previously announced offering of US$350 million aggregate principal amount of convertible senior notes due 2018 (the "notes") on December 10, 2018.....The notes will be convertible into SouFun's American depositary shares ("ADSs")...The notes will bear interest at a rate of 2.00% per year, payable semiannually in arrears on June 15 and December 15 .....http://quotes.freerealtime.com/dl/frt/N?NewsStory=1  

online real estate services firm E-House (EJ) has sharply trimmed its plan for a new major offering. One can interpret this unexpected twist in a number of ways, which I'll explain shortly. But from my perspective the development looks like one of the first signs that a resurgence of interest in US-listed Chinese tech firms over the last few months could quickly dim in the first half of 2014 as investors turn their attention to other companies.

Let's begin with a look at the latest news from E-House, China's second largest real estate services company behind industry leader SouFun (SFUN).E-House had announced earlier this week it planned to raise up to $200 million with a convertible bond offering, becoming the latest Chinese Internet company to launch such a fund-raising plan. But now the company has just announced it scaled back its plan to a more modest $135 million ......

http://seekingalpha.com/article/...tor-appetite-softens?source=nasdaq  

A slew of bad media coverage came out of China’s property market today. At 10.50AM Eastern time, Chinese online real estate services providers E-House Holdings (EJ) slumped 7.8%, and Soufun (SFUN) lost 6.2%, following the lead of the property developers that traded in Hong Kong and Shanghai today.

Chinese media reported banks were tightening credit on property developers. Wall Street Journal reports:

   Industrial Bank Co., a midsize bank in China, has stopped issuing new loans to property developers due to rising risks in the sector, according to the Oriental Morning Post.

Real estate developers have cut prices in two cities in Eastern China to spur sales, According to Nomura Securities analyst Zhiwei Zhang, property sector’s over-investment problem is China’s number 1 risk, ahead of the trust sector or the local government financing vehicles, because:

   Its contribution to GDP growth has been critically important over the past five years and the government may not have the proper policy tools to manage a situation where oversupply eventually causes property prices to fall, particularly in thirdand fourth-tier cities.which analysts say could be a signal of broader market weakness ahead. In Hangzhou, a second-tier city one hour train ride away from Shanghai, a developer cut prices by 18% on February 18, prompting others to follow suit. In Changzhou, a third-tier city that suffers from an oversupply problem, a developer cut prices on new project by close to 40%.

China’s new home price growth slowed in January, the first slowdown in a year.

Property developers slumped today. Bloomberg has the numbers:

   A gauge of property stocks in the Shanghai index slid 5.4 percent, the most among five industry groups. Vanke, the nation’s biggest listed developer, tumbled 6.6 percent to 6.69 yuan. Poly Real Estate plunged 8.5 percent to 6.77 yuan. Gemdale Corp. (600383) fell 7.7 percent to 5.91 yuan.

http://blogs.barrons.com/emergingmarketsdaily/...velopers-cut-prices/  

mit einer ersten Position rein.
Ich finde den Abverkauf doch etwas heftig, stimmen die Zahlen doch durch die Bank weg.
Könnte laut Chart auch noch bis 8 bzw. 6$ fallen, aber das Down von gestern war einfach zu verlockend.
Bin mal gespannt wo wir in einem Jahr stehen :-)

könnte mit wieder Kurse jenseits der 18$ vorstellen

Kennzahlen:

          §financial highlights | statements
       P/E     12.44          §
Forward P/E 8.84 EPS next Y
EPS this Y 91.90%
  Dividend      0.40     P/FCF          §
Dividend % 4.53%

Hummel

erst einmal alle Gewinne mit etwas über 40% realisiert. Erwarte eine Korrektur im USA Markt und die Aktie ist jetzt so gut gelaufen. Bleibt natürlich auf der Watch und ist nach wie vor ein Top-Invest in meinen Augen.

Hummel