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2021-06-03

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Opening: U.S. stock market open low, the concept of retail investors generally fell, and the "high short-selling concept" soared

2021-05-25

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2021-05-12

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Prospects for new shares | Helenberg "helps the son to take the lead": What is the quality behind Haiyue Life's visit to Hong Kong?

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The S&P 500 index opened down 23.82 points, or 0.57%, to 4184.30 points; The Nasdaq Composite Index opened down 112.69 points, or 0.82%, to 13,643.64 points.</p><p>In terms of economic data, the number of ADP employment in the United States increased by 978,000 in May, a new high since June last year. The number of initial unemployment claims in the United States fell to 385,000 in the week ending May 29, the first time since March 2020 that it fell below 400,000, about 20,000 less than the revised data of the previous week, and a new low since March 14 last year..</p><p><img src=\"https://static.tigerbbs.com/9b67566889814d64e7b33ee0e97ec16d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Major retail investors' group concept stocks generally fell.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell 8% after announcing that it would sell up to 11.55 million shares on the market.<a href=\"https://laohu8.com/S/EXPR\">Express</a>It fell more than 17%, after previously announcing the issuance of up to 15 million additional shares. At the same time,<a href=\"https://laohu8.com/S/KOSS\">Gaussian electron</a>Down 10%,<a href=\"https://laohu8.com/S/BBBY\">3B Home</a>Down 12.9%,<a href=\"https://laohu8.com/S/GME\">GameStop</a>Down 5%.</p><p><a href=\"https://laohu8.com/S/BB\">Blackberry</a>It continued to rise 30% at the opening and closed up nearly 32% yesterday.</p><p>Cloud Network Services Company<a href=\"https://laohu8.com/S/GTT\">GTT Communications</a>It rose 43%.<a href=\"https://laohu8.com/S/WKHS\">Workhorse</a>Up 36%. Both companies are stocks with high short selling ratios.</p><p><img src=\"https://static.tigerbbs.com/8949d87b14ef63aa0ed2d88dfe3ab74d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/SPLK\">Splunk</a>It fell 5.88%. The loss in the first fiscal quarter was higher than market expectations, and many investment banks lowered their target prices.</p><p><a href=\"https://laohu8.com/S/AI\">C3. ai</a>It fell 11%, and the revenue in fiscal year 2021 was slightly worse than market expectations, and many investment banks lowered their target prices.</p><p>International gold prices fell, and U.S. gold stocks generally fell.<a href=\"https://laohu8.com/S/GOLD\">Barrick Gold</a>Down 3.66%,<a href=\"https://laohu8.com/S/HMY\">Harmony Gold</a>Down 4.48%,<a href=\"https://laohu8.com/S/GFI\">Jintian</a>Down 4%.</p><p>The decline of Chinese concept stocks expanded at the beginning of the session,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 4%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Down 2.6%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Down 2%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opening: U.S. stock market open low, the concept of retail investors generally fell, and the \"high short-selling concept\" soared</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpening: U.S. stock market open low, the concept of retail investors generally fell, and the \"high short-selling concept\" soared\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-03 21:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 3 (Thursday), the Dow Jones Index opened down 160.94 points, or 0.47%, to 34,439.44 points. The S&P 500 index opened down 23.82 points, or 0.57%, to 4184.30 points; The Nasdaq Composite Index opened down 112.69 points, or 0.82%, to 13,643.64 points.</p><p>In terms of economic data, the number of ADP employment in the United States increased by 978,000 in May, a new high since June last year. The number of initial unemployment claims in the United States fell to 385,000 in the week ending May 29, the first time since March 2020 that it fell below 400,000, about 20,000 less than the revised data of the previous week, and a new low since March 14 last year..</p><p><img src=\"https://static.tigerbbs.com/9b67566889814d64e7b33ee0e97ec16d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Major retail investors' group concept stocks generally fell.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell 8% after announcing that it would sell up to 11.55 million shares on the market.<a href=\"https://laohu8.com/S/EXPR\">Express</a>It fell more than 17%, after previously announcing the issuance of up to 15 million additional shares. At the same time,<a href=\"https://laohu8.com/S/KOSS\">Gaussian electron</a>Down 10%,<a href=\"https://laohu8.com/S/BBBY\">3B Home</a>Down 12.9%,<a href=\"https://laohu8.com/S/GME\">GameStop</a>Down 5%.</p><p><a href=\"https://laohu8.com/S/BB\">Blackberry</a>It continued to rise 30% at the opening and closed up nearly 32% yesterday.</p><p>Cloud Network Services Company<a href=\"https://laohu8.com/S/GTT\">GTT Communications</a>It rose 43%.<a href=\"https://laohu8.com/S/WKHS\">Workhorse</a>Up 36%. Both companies are stocks with high short selling ratios.</p><p><img src=\"https://static.tigerbbs.com/8949d87b14ef63aa0ed2d88dfe3ab74d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/SPLK\">Splunk</a>It fell 5.88%. The loss in the first fiscal quarter was higher than market expectations, and many investment banks lowered their target prices.</p><p><a href=\"https://laohu8.com/S/AI\">C3. ai</a>It fell 11%, and the revenue in fiscal year 2021 was slightly worse than market expectations, and many investment banks lowered their target prices.</p><p>International gold prices fell, and U.S. gold stocks generally fell.<a href=\"https://laohu8.com/S/GOLD\">Barrick Gold</a>Down 3.66%,<a href=\"https://laohu8.com/S/HMY\">Harmony Gold</a>Down 4.48%,<a href=\"https://laohu8.com/S/GFI\">Jintian</a>Down 4%.</p><p>The decline of Chinese concept stocks expanded at the beginning of the session,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 4%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Down 2.6%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Down 2%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129943924","content_text":"6月3日（周四），道琼斯指数开盘下跌160.94点，跌幅0.47%，报34439.44点。标普500指数开盘下跌23.82点，跌幅0.57%，报4184.30点；纳斯达克综合指数开盘下跌112.69点，跌幅0.82%，报13643.64点。经济数据面，美国5月ADP就业人数录得增加97.8万人，增幅创去年6月以来新高。截至5月29日当周美国首次申请失业救济人数降至38.5万，为2020年3月份以来首次跌破40万，比前一周修订后的数据减少约2万，创去年3月14日以来新低。主要的散户抱团概念股普跌。AMC院线跌8%，此前宣布将在场内出售至多1155万股股票。Express跌超17%，此前宣布增发至多1500万股股票。同时，高斯电子跌10%，3B家居跌12.9%，游戏驿站跌5%。黑莓开盘续涨30%，昨日收涨近32%。云端网络服务公司GTT Communications大涨43%。Workhorse涨36%。两家公司均是高做空比率的个股。Splunk跌5.88%，第一财季亏损高于市场预期，且遭多家投行下调目标价。C3.ai跌11%，2021财年营收稍逊市场预期，多家投行下调目标价。国际金价下跌，美股黄金股普跌，巴里克黄金跌3.66%，哈莫尼黄金跌4.48%，金田跌4%。中概股盘初跌势扩大，哔哩哔哩、好未来跌超4%，百度跌2.6%，京东跌2%。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2069,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138486356,"gmtCreate":1621954086475,"gmtModify":1704365123599,"author":{"id":"3581645316557160","authorId":"3581645316557160","name":"小妖","avatar":"https://static.tigerbbs.com/fdcc01a57e6835ae85382658862f0b4c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581645316557160","idStr":"3581645316557160"},"themes":[],"htmlText":"✌️","listText":"✌️","text":"✌️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138486356","repostId":"1157144684","repostType":4,"isVote":1,"tweetType":1,"viewCount":2192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191029460,"gmtCreate":1620828766650,"gmtModify":1704349033003,"author":{"id":"3581645316557160","authorId":"3581645316557160","name":"小妖","avatar":"https://static.tigerbbs.com/fdcc01a57e6835ae85382658862f0b4c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581645316557160","idStr":"3581645316557160"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191029460","repostId":"2130376523","repostType":4,"repost":{"id":"2130376523","kind":"news","pubTimestamp":1619574821,"share":"https://ttm.financial/m/news/2130376523?lang=en_US&edition=fundamental","pubTime":"2021-04-28 09:53","market":"hk","language":"zh","title":"Prospects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?","url":"https://stock-news.laohu8.com/highlight/detail?id=2130376523","media":"智通财经","summary":"4月23日，海伦堡旗下物业公司海悦生活控股有限公司向港交所正式递交招股书，联席保荐人为农银国际、建银国际。而海悦生活的成色又究竟怎么样呢?与此同时，据据招股书披露，海悦生活在中指院的2021中国物业服务百强企业排名22，亦是处于中上游水平。据悉，海悦生活的收益主要来源于物业管理服务、非业主增值服务、社区增值服务三个分部。据招股书显示，海悦生活的在管及已签约面积则主要由海伦堡中国集团及其关联方贡献。","content":"<p><html><body>On April 23, Helenberg's property company Haiyue Life Holdings Co., Ltd. (referred to as \"Haiyue Life\") officially submitted a prospectus to the Hong Kong Stock Exchange. The joint sponsors are ABC International and CCB International.</p><p>Among many property companies, Haiyue Life is not an outstanding one, but if his actual controller Huang Chiheng is mentioned, there are many stories.</p><p>It is reported that Haiyue Life was established by Huang Chiheng, the founder of Helenberg Real Estate. Until now, Huang Chiheng owns 97% of the shares and is the actual controller of the company. He is widely known mainly because of an investment joke that \"you can obviously rely on stock trading to make a living, but you want to engage in real estate\".</p><p>In 2009, Huang Chiheng opened a position<a href=\"https://laohu8.com/S/002252\">Shanghai RAAS</a>One year later, Shanghai RAAS's stock soared 150%, thus winning the title of \"the best retail investor\"; In 2014, Huang Chiheng spent hundreds of millions of yuan on subscription<a href=\"https://laohu8.com/S/002705\">Xinbao shares</a>, was once again crowned the title of \"the best new retail investor\". Some media even reported that Huang Chiheng made more money from stock trading than Helenberg Real Estate.</p><p>However, compared with earning a lot of money from his \"sideline business\", Huang Chiheng is not so lucky in operating his main business of real estate-because he missed the best opportunity to expand in the real estate industry, Helenberg Real Estate, which has submitted forms for listing many times, was shut out by the Hong Kong Stock Exchange because of the not-so-good financial data.</p><p>Now, Huang Chiheng has changed to a new track, ready to take advantage of the rise of property and push his property company Haiyue Life to the forefront. And what is the quality of Haiyue's life?</p><p>\"Water\" is big, \"fish\" is not big</p><p>Looking back at the history of the establishment of Haiyue Life, it can be seen that its predecessor was Guangzhou Helenberg Property founded by Huang Chiheng, the founder of Helenberg, and was established in 1999. Therefore, it seems that its qualifications are not shallow in the property management industry. Its business is similar to most property companies, covering a wide range of property types, including residential properties and non-residential properties such as industrial parks, shopping malls and office buildings.</p><p>As we all know, the growth space of a company is inseparable from the blessing of its market size, so let's take a look at the market space of Haiyue Life.</p><p>In recent years, with the rapid urbanization and the continuous growth of per capita disposable income, as well as the catalysis of the \"black swan\" of the public health incident in early 2020, the property management industry has lived up to expectations and ushered in a rising trend. The top 100 property service companies The construction area under management and the number of properties are also increasing rapidly at a rate visible to the naked eye.</p><p>According to data from the China Index Academy, the average total construction area under management of the top 100 property service companies increased from approximately 23.6 million square meters in 2015 to 42.8 million square meters in 2019, with a compound annual growth rate of approximately 16.0%. The average number of properties under management of the Top 100 Property Management Companies increased from 154 as of December 31, 2015 to 212 as of December 31, 2019, representing a CAGR of 8.3%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574937841237.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574937841237.png\"/></p><p>(Source: Middle Finger Academy)</p><p>Due to the increase in the GFA and quantity of properties under management, the average revenue of the top 100 property management companies has also increased significantly accordingly:</p><p>From approximately 540 million yuan in 2015 to approximately 1.04 billion yuan in 2019, with a compound annual growth rate of approximately 17.8%. In short, the property industry is in the development stage of a sharp increase in market size.</p><p>In this context, since Haiyue Life is also mainly involved in first-and second-tier cities such as Guangdong-Hong Kong-Macau Greater Bay Area, this will mean that the company will eat the double dividends of the rise of the property market and the regional advantages of first-and second-tier cities.</p><p>According to the prospectus, as of the end of December 2020, Haiyue Life had 150 projects under management and contracted, with a total contracted construction area of approximately 42.3 million square meters and a total construction area under management of approximately 24.3 million square meters, covering 57 cities in 15 provinces, municipalities and autonomous regions in China, focusing on other first-and second-tier cities in the Greater Bay Area, southwest China, East China and other economically developed regions, of which more than 50% of the construction area under management is located in first-and second-tier cities.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574954512496.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574954512496.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, unfortunately, compared with the above-mentioned market dividends, Haiyue's market scale is not very large, and it is at the middle level.</p><p>According to relevant data, in the 2020 ranking of listed property companies in terms of scale (area under management), the \"top three\" are<a href=\"https://laohu8.com/S/01778\">Color Life</a>、<a href=\"https://laohu8.com/S/06098\">Country Garden Services</a>、<a href=\"https://laohu8.com/S/06049\">Poly Property</a>The areas under management were 552 million square meters, 462 million square meters, and 380 million square meters respectively. However, the area under management of Haiyue Life in 2020 is only 24.3 million square meters, which shows that there is still a big gap with the scale of industry leaders.</p><p>At the same time, according to the prospectus, Haiyue Life ranks 22nd among the top 100 Chinese property service companies in 2021 in the China Index Academy, which is also in the middle and upper reaches.</p><p>Based on the above, although the prospects of the property industry are promising, for Haiyue Life, it means that \"the water is big and the fish is not big\".</p><p>Steady growth in performance, but external expansion capabilities need to be studied</p><p>It has to be said that although Haiyue Life does not have the advantage of scale, its performance growth is actually relatively stable.</p><p>In terms of operating performance, from 2018 to 2020, Haiyue Life's operating income was approximately 417 million yuan, 557 million yuan and 676 million yuan respectively, with a compound annual growth rate of 27.3%; The corresponding net profits were 46.329 million yuan, 77.034 million yuan and 97.966 million yuan respectively, with a compound annual growth rate of 45.4%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575021933513.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575021933513.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>In terms of profitability, it is also steadily improving. From 2018 to 2020, the company's gross profit margins were 27.0%, 29.0%, and 30.7%, respectively, which continued to increase. The level of cash flow has also continued to grow steadily: during the reporting period, the company's net cash flow from operating activities was 110 million yuan, 118 million yuan, and 146 million yuan respectively.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575039860551.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575039860551.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, compared with the above-mentioned stable financial data, although the asset-liability ratio of Haiyue Life has decreased year by year, it is relatively high among many property companies: According to the prospectus, from 2018 to 2020, the asset-liability ratio of Haiyue Life The ratios are 86.6%, 68.1%, and 58.1% respectively.</p><p>In addition, it should be pointed out that when subdivided into the business segment of Haiyue Life, some growth flaws may also be found.</p><p>For example, the revenue of community value-added services with high interest rate advantages is declining, lagging behind other property companies with rapid value-added community value-added services.</p><p>It is reported that Haiyue Life's income mainly comes from three divisions: property management services, non-owner value-added services, and community value-added services. In 2020, a peculiar growth phenomenon occurred in the company's business revenue growth of each segment-community value-added service revenue continued to decline, while non-owner value-added services continued to rise. In contrast, benefiting from the catalysis of public health incidents, most property companies in 2020 showed a state of \"the proportion of non-owner value-added service income showed a downward trend, and community value-added services increased rapidly.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575059548668.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575059548668.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>Doing the opposite means that Haiyue Life is getting farther and farther away from the community value-added services with the highest gross profit margin. According to the prospectus, the proportion of the company's community value-added service revenue gradually dropped from 8.4% in 2018 to 6.8%. You know, community value-added services are recognized as a high-margin business in the property industry, and its decline is not a good phenomenon.</p><p>Or, the current Haiyue Life also has the shortcomings of insufficient external expansion capabilities and being too dependent on the parent company.</p><p>According to the prospectus, the managed and contracted area of Haiyue Life is mainly contributed by Helenberg China Group and its related parties. Among them, the area under management and the contracted area in 2018 and 2019 both came from Helenberg. In 2020, an independent third-party project was added, with a contracted area of 83,000 square meters. It is not difficult to see the company's external expansion pressure.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575076700085.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575076700085.png\"/></center><center>(Data source: Haiyue Life Prospectus)</center>To sum up, it is not difficult to see that the \"quality\" of Haiyue's life does not seem to be as good as its founder Huang Chiheng's stock trading level, and it has certain growth flaws, and the road to listing may not be as easy as imagined.</p><p></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prospects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProspects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-04-28 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>On April 23, Helenberg's property company Haiyue Life Holdings Co., Ltd. (referred to as \"Haiyue Life\") officially submitted a prospectus to the Hong Kong Stock Exchange. The joint sponsors are ABC International and CCB International.</p><p>Among many property companies, Haiyue Life is not an outstanding one, but if his actual controller Huang Chiheng is mentioned, there are many stories.</p><p>It is reported that Haiyue Life was established by Huang Chiheng, the founder of Helenberg Real Estate. Until now, Huang Chiheng owns 97% of the shares and is the actual controller of the company. He is widely known mainly because of an investment joke that \"you can obviously rely on stock trading to make a living, but you want to engage in real estate\".</p><p>In 2009, Huang Chiheng opened a position<a href=\"https://laohu8.com/S/002252\">Shanghai RAAS</a>One year later, Shanghai RAAS's stock soared 150%, thus winning the title of \"the best retail investor\"; In 2014, Huang Chiheng spent hundreds of millions of yuan on subscription<a href=\"https://laohu8.com/S/002705\">Xinbao shares</a>, was once again crowned the title of \"the best new retail investor\". Some media even reported that Huang Chiheng made more money from stock trading than Helenberg Real Estate.</p><p>However, compared with earning a lot of money from his \"sideline business\", Huang Chiheng is not so lucky in operating his main business of real estate-because he missed the best opportunity to expand in the real estate industry, Helenberg Real Estate, which has submitted forms for listing many times, was shut out by the Hong Kong Stock Exchange because of the not-so-good financial data.</p><p>Now, Huang Chiheng has changed to a new track, ready to take advantage of the rise of property and push his property company Haiyue Life to the forefront. And what is the quality of Haiyue's life?</p><p>\"Water\" is big, \"fish\" is not big</p><p>Looking back at the history of the establishment of Haiyue Life, it can be seen that its predecessor was Guangzhou Helenberg Property founded by Huang Chiheng, the founder of Helenberg, and was established in 1999. Therefore, it seems that its qualifications are not shallow in the property management industry. Its business is similar to most property companies, covering a wide range of property types, including residential properties and non-residential properties such as industrial parks, shopping malls and office buildings.</p><p>As we all know, the growth space of a company is inseparable from the blessing of its market size, so let's take a look at the market space of Haiyue Life.</p><p>In recent years, with the rapid urbanization and the continuous growth of per capita disposable income, as well as the catalysis of the \"black swan\" of the public health incident in early 2020, the property management industry has lived up to expectations and ushered in a rising trend. The top 100 property service companies The construction area under management and the number of properties are also increasing rapidly at a rate visible to the naked eye.</p><p>According to data from the China Index Academy, the average total construction area under management of the top 100 property service companies increased from approximately 23.6 million square meters in 2015 to 42.8 million square meters in 2019, with a compound annual growth rate of approximately 16.0%. The average number of properties under management of the Top 100 Property Management Companies increased from 154 as of December 31, 2015 to 212 as of December 31, 2019, representing a CAGR of 8.3%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574937841237.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574937841237.png\"/></p><p>(Source: Middle Finger Academy)</p><p>Due to the increase in the GFA and quantity of properties under management, the average revenue of the top 100 property management companies has also increased significantly accordingly:</p><p>From approximately 540 million yuan in 2015 to approximately 1.04 billion yuan in 2019, with a compound annual growth rate of approximately 17.8%. In short, the property industry is in the development stage of a sharp increase in market size.</p><p>In this context, since Haiyue Life is also mainly involved in first-and second-tier cities such as Guangdong-Hong Kong-Macau Greater Bay Area, this will mean that the company will eat the double dividends of the rise of the property market and the regional advantages of first-and second-tier cities.</p><p>According to the prospectus, as of the end of December 2020, Haiyue Life had 150 projects under management and contracted, with a total contracted construction area of approximately 42.3 million square meters and a total construction area under management of approximately 24.3 million square meters, covering 57 cities in 15 provinces, municipalities and autonomous regions in China, focusing on other first-and second-tier cities in the Greater Bay Area, southwest China, East China and other economically developed regions, of which more than 50% of the construction area under management is located in first-and second-tier cities.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574954512496.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574954512496.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, unfortunately, compared with the above-mentioned market dividends, Haiyue's market scale is not very large, and it is at the middle level.</p><p>According to relevant data, in the 2020 ranking of listed property companies in terms of scale (area under management), the \"top three\" are<a href=\"https://laohu8.com/S/01778\">Color Life</a>、<a href=\"https://laohu8.com/S/06098\">Country Garden Services</a>、<a href=\"https://laohu8.com/S/06049\">Poly Property</a>The areas under management were 552 million square meters, 462 million square meters, and 380 million square meters respectively. However, the area under management of Haiyue Life in 2020 is only 24.3 million square meters, which shows that there is still a big gap with the scale of industry leaders.</p><p>At the same time, according to the prospectus, Haiyue Life ranks 22nd among the top 100 Chinese property service companies in 2021 in the China Index Academy, which is also in the middle and upper reaches.</p><p>Based on the above, although the prospects of the property industry are promising, for Haiyue Life, it means that \"the water is big and the fish is not big\".</p><p>Steady growth in performance, but external expansion capabilities need to be studied</p><p>It has to be said that although Haiyue Life does not have the advantage of scale, its performance growth is actually relatively stable.</p><p>In terms of operating performance, from 2018 to 2020, Haiyue Life's operating income was approximately 417 million yuan, 557 million yuan and 676 million yuan respectively, with a compound annual growth rate of 27.3%; The corresponding net profits were 46.329 million yuan, 77.034 million yuan and 97.966 million yuan respectively, with a compound annual growth rate of 45.4%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575021933513.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575021933513.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>In terms of profitability, it is also steadily improving. From 2018 to 2020, the company's gross profit margins were 27.0%, 29.0%, and 30.7%, respectively, which continued to increase. The level of cash flow has also continued to grow steadily: during the reporting period, the company's net cash flow from operating activities was 110 million yuan, 118 million yuan, and 146 million yuan respectively.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575039860551.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575039860551.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, compared with the above-mentioned stable financial data, although the asset-liability ratio of Haiyue Life has decreased year by year, it is relatively high among many property companies: According to the prospectus, from 2018 to 2020, the asset-liability ratio of Haiyue Life The ratios are 86.6%, 68.1%, and 58.1% respectively.</p><p>In addition, it should be pointed out that when subdivided into the business segment of Haiyue Life, some growth flaws may also be found.</p><p>For example, the revenue of community value-added services with high interest rate advantages is declining, lagging behind other property companies with rapid value-added community value-added services.</p><p>It is reported that Haiyue Life's income mainly comes from three divisions: property management services, non-owner value-added services, and community value-added services. In 2020, a peculiar growth phenomenon occurred in the company's business revenue growth of each segment-community value-added service revenue continued to decline, while non-owner value-added services continued to rise. In contrast, benefiting from the catalysis of public health incidents, most property companies in 2020 showed a state of \"the proportion of non-owner value-added service income showed a downward trend, and community value-added services increased rapidly.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575059548668.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575059548668.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>Doing the opposite means that Haiyue Life is getting farther and farther away from the community value-added services with the highest gross profit margin. According to the prospectus, the proportion of the company's community value-added service revenue gradually dropped from 8.4% in 2018 to 6.8%. You know, community value-added services are recognized as a high-margin business in the property industry, and its decline is not a good phenomenon.</p><p>Or, the current Haiyue Life also has the shortcomings of insufficient external expansion capabilities and being too dependent on the parent company.</p><p>According to the prospectus, the managed and contracted area of Haiyue Life is mainly contributed by Helenberg China Group and its related parties. Among them, the area under management and the contracted area in 2018 and 2019 both came from Helenberg. In 2020, an independent third-party project was added, with a contracted area of 83,000 square meters. It is not difficult to see the company's external expansion pressure.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575076700085.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575076700085.png\"/></center><center>(Data source: Haiyue Life Prospectus)</center>To sum up, it is not difficult to see that the \"quality\" of Haiyue's life does not seem to be as good as its founder Huang Chiheng's stock trading level, and it has certain growth flaws, and the road to listing may not be as easy as imagined.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/461136.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1b5d60c72c5bab028f3d7d10da10eef2","relate_stocks":{"03913":"合景悠活"},"source_url":"http://www.zhitongcaijing.com/content/detail/461136.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2130376523","content_text":"4月23日，海伦堡旗下物业公司海悦生活控股有限公司(简称“海悦生活”)向港交所正式递交招股书，联席保荐人为农银国际、建银国际。在众多物业公司中，海悦生活算不上庸中佼佼，但如提起他的实控人黄炽恒，那可就故事多多了。据悉，海悦生活是由海伦堡地产的创始人黄炽恒成立的，直至目前黄炽恒拥有97%的股份，是该公司的实控人，而他被广为人知则主要是源于一个“明明可以靠炒股吃饭，却偏偏要搞地产”的投资段子。2009年，黄炽恒建仓上海莱士，一年后上海莱士股票飙升150%，由此获得“最牛散户”称号;2014年黄炽恒又因豪掷亿元申购新宝股份，再次被冠上“最牛打新散户”称号。甚至于有媒体报道称，黄炽恒炒股赚的钱比海伦堡地产赚的都要多。不过，相较于“副业”赚得盆满钵满，黄炽恒在经营主业房地产上却没那么幸运——由于错过地产行业最佳扩张时机，多次递表上市的海伦堡地产，终究因不太好看的财务数据被港交所置之门外。现如今，黄炽恒换了一条新赛道，准备乘着物业崛起的风口，把旗下的物业公司海悦生活推向台前。而海悦生活的成色又究竟怎么样呢?“水”大，“鱼”不大追溯海悦生活成立历史可知，它的前身是海伦堡创始人黄炽恒创立的广州海伦堡物业，成立于1999年。因而这样看起来，其也算是在物管行业中资质不浅了。而它的业务也大多物业公司相似，涵盖广泛物业类型，包括住宅物业以及工业园、购物中心及办公大楼等非住宅物业。众所周知，一家公司的成长空间离不开其所处的市场规模加持，所以下面不妨来看看海悦生活的市场空间究竟如何。近年来，随着快速城镇化及人均可支配收入的不断增长，以及在2020年初的公共卫生事件“黑天鹅”的催化下，物管行业不负众望地迎来崛起的风口，物业服务百强企业的在管建筑面积及物业数目也以肉眼可见的速度迅速增加。据中指院数据显示，物业服务百强企业的平均在管总建筑面积由2015年的约2360万平方米增至2019年的4280万平方米，复合年增长率约为16.0%。物业服务百强企业的在管物业平均数由截至2015年12月31日的154个增至截至2019年12月31日的212个，复合年增长率为8.3%。(数据来源：中指院)而由于在管物业的建筑面积及数量增长，物业服务百强企业的平均收益也相应地大幅增长：由2015年的约5.4亿元增至2019年的约10.4亿元，复合年增长率约为17.8%。简而言之，就是，物业行业正处于市场规模大幅攀升的发展阶段。在这个背景下，由于海悦生活还主要深耕粤港澳大湾区等一二线城市，这将意味着，该公司将吃下物业市场规模崛起及一二线城市区域优势的双重红利。据招股书披露，截至2020年12月底，海悦生活的在管和已签约项目共有150个，签约总建筑面积约为4230万平方米，在管总建筑面积约为2430万平方米，覆盖中国15个省份、直辖市及自治区57个城市，聚焦大湾区、中国西南部、华东以及其他经济发达地区的其他一、二线城市，其中有50%以上的在管建筑面积位于一二线城市。(数据来源：海悦生活招股书)不过，遗憾的是，相对于上述市场红利而言，海悦生活在市场的规模并不是很大，处于中游水平。据相关数据显示，2020上市物企规模(在管面积)排名中，“前三甲”分别为被彩生活、碧桂园服务、保利物业夺得，在管面积分别为5.52亿平方米、4.62亿平方米、3.80亿平方米。而海悦生活2020年的在管面积仅有2430万平方米，可见与行业龙头的规模还是存有较大差距的。与此同时，据据招股书披露，海悦生活在中指院的2021中国物业服务百强企业排名22，亦是处于中上游水平。综合上述来看，虽然物业行业前景可期，但对于海悦生活而言则颇有“水大，鱼不大”的意味。业绩稳健增长，但外拓能力有待考究不得不说的是，虽然海悦生活不具有规模优势，但实际上其业绩增长还是比较稳健的。经营业绩上，2018至2020年，海悦生活的营业收入分别约为4.17亿元、5.57亿元和6.76亿元，复合年增长率为27.3%;对应净利润分别为4632.9万元、7703.4万元和9796.6万元，复合年增长率为45.4%。(数据来源：海悦生活招股书)盈利能力方面，也处于稳步提升状态。2018年至2020年，该公司的毛利率分别为27.0%、29.0%、30.7%，不断提升。而现金流水平也不断稳健增长：报告期内，该公司经营活动所得现金流量净额分别为1.1亿元、1.18亿元、1.46亿元。(数据来源：海悦生活招股书)不过，相较于上述表现稳健的财务数据，海悦生活的资产负债率虽然逐年下降，但在众多物业公司中则算比较高：据招股书显示，2018年至2020年，海悦生活的资产负债率分别为86.6%、68.1%、58.1%。此外，需要指出的是，细分到海悦生活的业务板块上，或许还能发现其一些增长瑕疵。比如说，具有高利率优势的社区增值服务营收不断下降，落后于其它社区增值服务增值迅猛的物业公司。据悉，海悦生活的收益主要来源于物业管理服务、非业主增值服务、社区增值服务三个分部。2020年该公司各板块业务收入增长发生一个奇特的增长现象——社区增值服务收入不断下降，非业主增值服务则不断上升。与之相左的是，受益于公共卫生事件的催化，2020年大部分物企都呈现出“非业主增值服务收入占比呈下降趋势，社区增值服务增值迅猛”这一状态。(数据来源：海悦生活招股书)反其道而行的做法，则意味着海悦生活离毛利率最高的社区增值服务越来越远。据招股书显示，该公司的社区增值服务收入占比由2018年的8.4%逐渐降为6.8%。要知道，社区增值服务作为物业行业公认的高毛利业务，它的下降可不是一个好现象。再或者是，目前的海悦生活也存有外拓能力不足，过于依赖母公司的缺陷。据招股书显示，海悦生活的在管及已签约面积则主要由海伦堡中国集团及其关联方贡献。其中，2018年和2019年的在管面积和已签约面积均来自于海伦堡，2020年才增加了一个独立第三方的项目，签约面积为8.3万平方米，从中不难看出该公司的外拓压力。(数据来源：海悦生活招股书)综上所述，不难看出，海悦生活的“成色”似乎也并没有如其创始人黄炽恒炒股水平那么优秀，而存有一定增长瑕疵的它，上市之路恐怕也并没有想象中的那么轻松了。","news_type":1,"symbols_score_info":{"03913":0.9}},"isVote":1,"tweetType":1,"viewCount":2609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":118854434,"gmtCreate":1622728657828,"gmtModify":1704189925109,"author":{"id":"3581645316557160","authorId":"3581645316557160","name":"小妖","avatar":"https://static.tigerbbs.com/fdcc01a57e6835ae85382658862f0b4c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581645316557160","idStr":"3581645316557160"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118854434","repostId":"1129943924","repostType":4,"repost":{"id":"1129943924","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622727398,"share":"https://ttm.financial/m/news/1129943924?lang=en_US&edition=fundamental","pubTime":"2021-06-03 21:36","market":"us","language":"zh","title":"Opening: U.S. stock market open low, the concept of retail investors generally fell, and the \"high short-selling concept\" soared","url":"https://stock-news.laohu8.com/highlight/detail?id=1129943924","media":"老虎资讯综合","summary":"6月3日（周四），道琼斯指数开盘下跌160.94点，跌幅0.47%，报34439.44点。标普500指数开盘下跌23.82点，跌幅0.57%，报4184.30点；纳斯达克综合指数开盘下跌112.69点","content":"<p>On June 3 (Thursday), the Dow Jones Index opened down 160.94 points, or 0.47%, to 34,439.44 points. The S&P 500 index opened down 23.82 points, or 0.57%, to 4184.30 points; The Nasdaq Composite Index opened down 112.69 points, or 0.82%, to 13,643.64 points.</p><p>In terms of economic data, the number of ADP employment in the United States increased by 978,000 in May, a new high since June last year. The number of initial unemployment claims in the United States fell to 385,000 in the week ending May 29, the first time since March 2020 that it fell below 400,000, about 20,000 less than the revised data of the previous week, and a new low since March 14 last year..</p><p><img src=\"https://static.tigerbbs.com/9b67566889814d64e7b33ee0e97ec16d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Major retail investors' group concept stocks generally fell.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell 8% after announcing that it would sell up to 11.55 million shares on the market.<a href=\"https://laohu8.com/S/EXPR\">Express</a>It fell more than 17%, after previously announcing the issuance of up to 15 million additional shares. At the same time,<a href=\"https://laohu8.com/S/KOSS\">Gaussian electron</a>Down 10%,<a href=\"https://laohu8.com/S/BBBY\">3B Home</a>Down 12.9%,<a href=\"https://laohu8.com/S/GME\">GameStop</a>Down 5%.</p><p><a href=\"https://laohu8.com/S/BB\">Blackberry</a>It continued to rise 30% at the opening and closed up nearly 32% yesterday.</p><p>Cloud Network Services Company<a href=\"https://laohu8.com/S/GTT\">GTT Communications</a>It rose 43%.<a href=\"https://laohu8.com/S/WKHS\">Workhorse</a>Up 36%. Both companies are stocks with high short selling ratios.</p><p><img src=\"https://static.tigerbbs.com/8949d87b14ef63aa0ed2d88dfe3ab74d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/SPLK\">Splunk</a>It fell 5.88%. The loss in the first fiscal quarter was higher than market expectations, and many investment banks lowered their target prices.</p><p><a href=\"https://laohu8.com/S/AI\">C3. ai</a>It fell 11%, and the revenue in fiscal year 2021 was slightly worse than market expectations, and many investment banks lowered their target prices.</p><p>International gold prices fell, and U.S. gold stocks generally fell.<a href=\"https://laohu8.com/S/GOLD\">Barrick Gold</a>Down 3.66%,<a href=\"https://laohu8.com/S/HMY\">Harmony Gold</a>Down 4.48%,<a href=\"https://laohu8.com/S/GFI\">Jintian</a>Down 4%.</p><p>The decline of Chinese concept stocks expanded at the beginning of the session,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 4%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Down 2.6%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Down 2%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opening: U.S. stock market open low, the concept of retail investors generally fell, and the \"high short-selling concept\" soared</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpening: U.S. stock market open low, the concept of retail investors generally fell, and the \"high short-selling concept\" soared\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-03 21:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 3 (Thursday), the Dow Jones Index opened down 160.94 points, or 0.47%, to 34,439.44 points. The S&P 500 index opened down 23.82 points, or 0.57%, to 4184.30 points; The Nasdaq Composite Index opened down 112.69 points, or 0.82%, to 13,643.64 points.</p><p>In terms of economic data, the number of ADP employment in the United States increased by 978,000 in May, a new high since June last year. The number of initial unemployment claims in the United States fell to 385,000 in the week ending May 29, the first time since March 2020 that it fell below 400,000, about 20,000 less than the revised data of the previous week, and a new low since March 14 last year..</p><p><img src=\"https://static.tigerbbs.com/9b67566889814d64e7b33ee0e97ec16d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Major retail investors' group concept stocks generally fell.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell 8% after announcing that it would sell up to 11.55 million shares on the market.<a href=\"https://laohu8.com/S/EXPR\">Express</a>It fell more than 17%, after previously announcing the issuance of up to 15 million additional shares. At the same time,<a href=\"https://laohu8.com/S/KOSS\">Gaussian electron</a>Down 10%,<a href=\"https://laohu8.com/S/BBBY\">3B Home</a>Down 12.9%,<a href=\"https://laohu8.com/S/GME\">GameStop</a>Down 5%.</p><p><a href=\"https://laohu8.com/S/BB\">Blackberry</a>It continued to rise 30% at the opening and closed up nearly 32% yesterday.</p><p>Cloud Network Services Company<a href=\"https://laohu8.com/S/GTT\">GTT Communications</a>It rose 43%.<a href=\"https://laohu8.com/S/WKHS\">Workhorse</a>Up 36%. Both companies are stocks with high short selling ratios.</p><p><img src=\"https://static.tigerbbs.com/8949d87b14ef63aa0ed2d88dfe3ab74d\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/SPLK\">Splunk</a>It fell 5.88%. The loss in the first fiscal quarter was higher than market expectations, and many investment banks lowered their target prices.</p><p><a href=\"https://laohu8.com/S/AI\">C3. ai</a>It fell 11%, and the revenue in fiscal year 2021 was slightly worse than market expectations, and many investment banks lowered their target prices.</p><p>International gold prices fell, and U.S. gold stocks generally fell.<a href=\"https://laohu8.com/S/GOLD\">Barrick Gold</a>Down 3.66%,<a href=\"https://laohu8.com/S/HMY\">Harmony Gold</a>Down 4.48%,<a href=\"https://laohu8.com/S/GFI\">Jintian</a>Down 4%.</p><p>The decline of Chinese concept stocks expanded at the beginning of the session,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 4%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Down 2.6%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Down 2%.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129943924","content_text":"6月3日（周四），道琼斯指数开盘下跌160.94点，跌幅0.47%，报34439.44点。标普500指数开盘下跌23.82点，跌幅0.57%，报4184.30点；纳斯达克综合指数开盘下跌112.69点，跌幅0.82%，报13643.64点。经济数据面，美国5月ADP就业人数录得增加97.8万人，增幅创去年6月以来新高。截至5月29日当周美国首次申请失业救济人数降至38.5万，为2020年3月份以来首次跌破40万，比前一周修订后的数据减少约2万，创去年3月14日以来新低。主要的散户抱团概念股普跌。AMC院线跌8%，此前宣布将在场内出售至多1155万股股票。Express跌超17%，此前宣布增发至多1500万股股票。同时，高斯电子跌10%，3B家居跌12.9%，游戏驿站跌5%。黑莓开盘续涨30%，昨日收涨近32%。云端网络服务公司GTT Communications大涨43%。Workhorse涨36%。两家公司均是高做空比率的个股。Splunk跌5.88%，第一财季亏损高于市场预期，且遭多家投行下调目标价。C3.ai跌11%，2021财年营收稍逊市场预期，多家投行下调目标价。国际金价下跌，美股黄金股普跌，巴里克黄金跌3.66%，哈莫尼黄金跌4.48%，金田跌4%。中概股盘初跌势扩大，哔哩哔哩、好未来跌超4%，百度跌2.6%，京东跌2%。","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2069,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138486356,"gmtCreate":1621954086475,"gmtModify":1704365123599,"author":{"id":"3581645316557160","authorId":"3581645316557160","name":"小妖","avatar":"https://static.tigerbbs.com/fdcc01a57e6835ae85382658862f0b4c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581645316557160","idStr":"3581645316557160"},"themes":[],"htmlText":"✌️","listText":"✌️","text":"✌️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138486356","repostId":"1157144684","repostType":4,"repost":{"id":"1157144684","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621953202,"share":"https://ttm.financial/m/news/1157144684?lang=en_US&edition=fundamental","pubTime":"2021-05-25 22:33","market":"us","language":"zh","title":"[Change] Star Chinese concept stocks \"rise strongly\", affected by A shares?","url":"https://stock-news.laohu8.com/highlight/detail?id=1157144684","media":"老虎资讯综合","summary":"5月24日，今天A股大涨，受此消息影响，部分明星中概股盘中走强。新东方涨超15%，好未来涨超11%，有道涨近6%，爱奇艺、高途涨超4%，蔚来、百度涨超3%，拼多多、哔哩哔哩、秦淮数据涨超2%，小鹏汽车","content":"<p>On May 24, A-shares rose sharply today. Affected by this news, some star Chinese concept stocks strengthened during the session.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Up more than 15%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Rose more than 11%,<a href=\"https://laohu8.com/S/DAO\">Youdao</a>Rose nearly 6%,<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>、<a href=\"https://laohu8.com/S/GOTU\">High Road</a>Rose more than 4%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Rose more than 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/CD\">Chindata</a>Up more than 2%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, JD.com,<a href=\"https://laohu8.com/S/DADA\">Dada Group</a>、<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Up more than 1%.</p><p>Today, the net inflow of northbound funds was 21.723 billion yuan, a record high in a single-day net inflow; The turnover of the two cities exceeded one trillion yuan, hitting a new high in the past three months; The total market value of A shares increased by 1.83 trillion yuan in a single day.</p><p>The large rush to raise northbound funds is considered to be related to the appreciation of the RMB. As of 16:21 today, the U.S. dollar fell 75 points against the offshore RMB to 6.4022, hitting a new low since June 2018, that is, the offshore RMB exchange rate against the U.S. dollar hit a new high since June 2018.</p><p><img src=\"https://static.tigerbbs.com/be28990bd4eaf7d9bce66bad71ec8b5a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/2839b68735d3c1370c9ff70f4cbaf295\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>[Change] Star Chinese concept stocks \"rise strongly\", affected by A shares?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n[Change] Star Chinese concept stocks \"rise strongly\", affected by A shares?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-25 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On May 24, A-shares rose sharply today. Affected by this news, some star Chinese concept stocks strengthened during the session.<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Up more than 15%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Rose more than 11%,<a href=\"https://laohu8.com/S/DAO\">Youdao</a>Rose nearly 6%,<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>、<a href=\"https://laohu8.com/S/GOTU\">High Road</a>Rose more than 4%,<a href=\"https://laohu8.com/S/NIO\">Nio</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Rose more than 3%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/CD\">Chindata</a>Up more than 2%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, JD.com,<a href=\"https://laohu8.com/S/DADA\">Dada Group</a>、<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Up more than 1%.</p><p>Today, the net inflow of northbound funds was 21.723 billion yuan, a record high in a single-day net inflow; The turnover of the two cities exceeded one trillion yuan, hitting a new high in the past three months; The total market value of A shares increased by 1.83 trillion yuan in a single day.</p><p>The large rush to raise northbound funds is considered to be related to the appreciation of the RMB. As of 16:21 today, the U.S. dollar fell 75 points against the offshore RMB to 6.4022, hitting a new low since June 2018, that is, the offshore RMB exchange rate against the U.S. dollar hit a new high since June 2018.</p><p><img src=\"https://static.tigerbbs.com/be28990bd4eaf7d9bce66bad71ec8b5a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/2839b68735d3c1370c9ff70f4cbaf295\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/bd3ac286c2233d10a592ba6c388667fb","relate_stocks":{"NIO":"蔚来","BIDU":"百度","QNETCN":"纳斯达克中美互联网老虎指数","IQ":"爱奇艺","TTTN":"老虎中美互联网巨头ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157144684","content_text":"5月24日，今天A股大涨，受此消息影响，部分明星中概股盘中走强。新东方涨超15%，好未来涨超11%，有道涨近6%，爱奇艺、高途涨超4%，蔚来、百度涨超3%，拼多多、哔哩哔哩、秦淮数据涨超2%，小鹏汽车、京东、达达集团、阿里巴巴涨超1%。今天北向资金净流入217.23亿元，创单日净流入历史新高；两市成交额破万亿，创近3个月新高；A股总市值单日增加1.83万亿元。北向资金大幅抢筹，被认为与人民币升值有关。今日截至16:21，美元兑离岸人民币下跌75点，报6.4022，盘中创2018年6月以来新低，即离岸人民币兑美元汇率盘中创2018年6月以来新高。","news_type":1,"symbols_score_info":{"BIDU":0.9,"QNETCN":0.9,"IQ":0.9,"NIO":0.9,"TTTN":0.9}},"isVote":1,"tweetType":1,"viewCount":2192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191029460,"gmtCreate":1620828766650,"gmtModify":1704349033003,"author":{"id":"3581645316557160","authorId":"3581645316557160","name":"小妖","avatar":"https://static.tigerbbs.com/fdcc01a57e6835ae85382658862f0b4c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581645316557160","idStr":"3581645316557160"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191029460","repostId":"2130376523","repostType":4,"repost":{"id":"2130376523","kind":"news","pubTimestamp":1619574821,"share":"https://ttm.financial/m/news/2130376523?lang=en_US&edition=fundamental","pubTime":"2021-04-28 09:53","market":"hk","language":"zh","title":"Prospects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?","url":"https://stock-news.laohu8.com/highlight/detail?id=2130376523","media":"智通财经","summary":"4月23日，海伦堡旗下物业公司海悦生活控股有限公司向港交所正式递交招股书，联席保荐人为农银国际、建银国际。而海悦生活的成色又究竟怎么样呢?与此同时，据据招股书披露，海悦生活在中指院的2021中国物业服务百强企业排名22，亦是处于中上游水平。据悉，海悦生活的收益主要来源于物业管理服务、非业主增值服务、社区增值服务三个分部。据招股书显示，海悦生活的在管及已签约面积则主要由海伦堡中国集团及其关联方贡献。","content":"<p><html><body>On April 23, Helenberg's property company Haiyue Life Holdings Co., Ltd. (referred to as \"Haiyue Life\") officially submitted a prospectus to the Hong Kong Stock Exchange. The joint sponsors are ABC International and CCB International.</p><p>Among many property companies, Haiyue Life is not an outstanding one, but if his actual controller Huang Chiheng is mentioned, there are many stories.</p><p>It is reported that Haiyue Life was established by Huang Chiheng, the founder of Helenberg Real Estate. Until now, Huang Chiheng owns 97% of the shares and is the actual controller of the company. He is widely known mainly because of an investment joke that \"you can obviously rely on stock trading to make a living, but you want to engage in real estate\".</p><p>In 2009, Huang Chiheng opened a position<a href=\"https://laohu8.com/S/002252\">Shanghai RAAS</a>One year later, Shanghai RAAS's stock soared 150%, thus winning the title of \"the best retail investor\"; In 2014, Huang Chiheng spent hundreds of millions of yuan on subscription<a href=\"https://laohu8.com/S/002705\">Xinbao shares</a>, was once again crowned the title of \"the best new retail investor\". Some media even reported that Huang Chiheng made more money from stock trading than Helenberg Real Estate.</p><p>However, compared with earning a lot of money from his \"sideline business\", Huang Chiheng is not so lucky in operating his main business of real estate-because he missed the best opportunity to expand in the real estate industry, Helenberg Real Estate, which has submitted forms for listing many times, was shut out by the Hong Kong Stock Exchange because of the not-so-good financial data.</p><p>Now, Huang Chiheng has changed to a new track, ready to take advantage of the rise of property and push his property company Haiyue Life to the forefront. And what is the quality of Haiyue's life?</p><p>\"Water\" is big, \"fish\" is not big</p><p>Looking back at the history of the establishment of Haiyue Life, it can be seen that its predecessor was Guangzhou Helenberg Property founded by Huang Chiheng, the founder of Helenberg, and was established in 1999. Therefore, it seems that its qualifications are not shallow in the property management industry. Its business is similar to most property companies, covering a wide range of property types, including residential properties and non-residential properties such as industrial parks, shopping malls and office buildings.</p><p>As we all know, the growth space of a company is inseparable from the blessing of its market size, so let's take a look at the market space of Haiyue Life.</p><p>In recent years, with the rapid urbanization and the continuous growth of per capita disposable income, as well as the catalysis of the \"black swan\" of the public health incident in early 2020, the property management industry has lived up to expectations and ushered in a rising trend. The top 100 property service companies The construction area under management and the number of properties are also increasing rapidly at a rate visible to the naked eye.</p><p>According to data from the China Index Academy, the average total construction area under management of the top 100 property service companies increased from approximately 23.6 million square meters in 2015 to 42.8 million square meters in 2019, with a compound annual growth rate of approximately 16.0%. The average number of properties under management of the Top 100 Property Management Companies increased from 154 as of December 31, 2015 to 212 as of December 31, 2019, representing a CAGR of 8.3%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574937841237.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574937841237.png\"/></p><p>(Source: Middle Finger Academy)</p><p>Due to the increase in the GFA and quantity of properties under management, the average revenue of the top 100 property management companies has also increased significantly accordingly:</p><p>From approximately 540 million yuan in 2015 to approximately 1.04 billion yuan in 2019, with a compound annual growth rate of approximately 17.8%. In short, the property industry is in the development stage of a sharp increase in market size.</p><p>In this context, since Haiyue Life is also mainly involved in first-and second-tier cities such as Guangdong-Hong Kong-Macau Greater Bay Area, this will mean that the company will eat the double dividends of the rise of the property market and the regional advantages of first-and second-tier cities.</p><p>According to the prospectus, as of the end of December 2020, Haiyue Life had 150 projects under management and contracted, with a total contracted construction area of approximately 42.3 million square meters and a total construction area under management of approximately 24.3 million square meters, covering 57 cities in 15 provinces, municipalities and autonomous regions in China, focusing on other first-and second-tier cities in the Greater Bay Area, southwest China, East China and other economically developed regions, of which more than 50% of the construction area under management is located in first-and second-tier cities.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574954512496.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574954512496.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, unfortunately, compared with the above-mentioned market dividends, Haiyue's market scale is not very large, and it is at the middle level.</p><p>According to relevant data, in the 2020 ranking of listed property companies in terms of scale (area under management), the \"top three\" are<a href=\"https://laohu8.com/S/01778\">Color Life</a>、<a href=\"https://laohu8.com/S/06098\">Country Garden Services</a>、<a href=\"https://laohu8.com/S/06049\">Poly Property</a>The areas under management were 552 million square meters, 462 million square meters, and 380 million square meters respectively. However, the area under management of Haiyue Life in 2020 is only 24.3 million square meters, which shows that there is still a big gap with the scale of industry leaders.</p><p>At the same time, according to the prospectus, Haiyue Life ranks 22nd among the top 100 Chinese property service companies in 2021 in the China Index Academy, which is also in the middle and upper reaches.</p><p>Based on the above, although the prospects of the property industry are promising, for Haiyue Life, it means that \"the water is big and the fish is not big\".</p><p>Steady growth in performance, but external expansion capabilities need to be studied</p><p>It has to be said that although Haiyue Life does not have the advantage of scale, its performance growth is actually relatively stable.</p><p>In terms of operating performance, from 2018 to 2020, Haiyue Life's operating income was approximately 417 million yuan, 557 million yuan and 676 million yuan respectively, with a compound annual growth rate of 27.3%; The corresponding net profits were 46.329 million yuan, 77.034 million yuan and 97.966 million yuan respectively, with a compound annual growth rate of 45.4%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575021933513.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575021933513.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>In terms of profitability, it is also steadily improving. From 2018 to 2020, the company's gross profit margins were 27.0%, 29.0%, and 30.7%, respectively, which continued to increase. The level of cash flow has also continued to grow steadily: during the reporting period, the company's net cash flow from operating activities was 110 million yuan, 118 million yuan, and 146 million yuan respectively.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575039860551.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575039860551.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, compared with the above-mentioned stable financial data, although the asset-liability ratio of Haiyue Life has decreased year by year, it is relatively high among many property companies: According to the prospectus, from 2018 to 2020, the asset-liability ratio of Haiyue Life The ratios are 86.6%, 68.1%, and 58.1% respectively.</p><p>In addition, it should be pointed out that when subdivided into the business segment of Haiyue Life, some growth flaws may also be found.</p><p>For example, the revenue of community value-added services with high interest rate advantages is declining, lagging behind other property companies with rapid value-added community value-added services.</p><p>It is reported that Haiyue Life's income mainly comes from three divisions: property management services, non-owner value-added services, and community value-added services. In 2020, a peculiar growth phenomenon occurred in the company's business revenue growth of each segment-community value-added service revenue continued to decline, while non-owner value-added services continued to rise. In contrast, benefiting from the catalysis of public health incidents, most property companies in 2020 showed a state of \"the proportion of non-owner value-added service income showed a downward trend, and community value-added services increased rapidly.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575059548668.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575059548668.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>Doing the opposite means that Haiyue Life is getting farther and farther away from the community value-added services with the highest gross profit margin. According to the prospectus, the proportion of the company's community value-added service revenue gradually dropped from 8.4% in 2018 to 6.8%. You know, community value-added services are recognized as a high-margin business in the property industry, and its decline is not a good phenomenon.</p><p>Or, the current Haiyue Life also has the shortcomings of insufficient external expansion capabilities and being too dependent on the parent company.</p><p>According to the prospectus, the managed and contracted area of Haiyue Life is mainly contributed by Helenberg China Group and its related parties. Among them, the area under management and the contracted area in 2018 and 2019 both came from Helenberg. In 2020, an independent third-party project was added, with a contracted area of 83,000 square meters. It is not difficult to see the company's external expansion pressure.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575076700085.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575076700085.png\"/></center><center>(Data source: Haiyue Life Prospectus)</center>To sum up, it is not difficult to see that the \"quality\" of Haiyue's life does not seem to be as good as its founder Huang Chiheng's stock trading level, and it has certain growth flaws, and the road to listing may not be as easy as imagined.</p><p></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prospects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nProspects for new shares | Helenberg \"helps the son to take the lead\": What is the quality behind Haiyue Life's visit to Hong Kong?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-04-28 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>On April 23, Helenberg's property company Haiyue Life Holdings Co., Ltd. (referred to as \"Haiyue Life\") officially submitted a prospectus to the Hong Kong Stock Exchange. The joint sponsors are ABC International and CCB International.</p><p>Among many property companies, Haiyue Life is not an outstanding one, but if his actual controller Huang Chiheng is mentioned, there are many stories.</p><p>It is reported that Haiyue Life was established by Huang Chiheng, the founder of Helenberg Real Estate. Until now, Huang Chiheng owns 97% of the shares and is the actual controller of the company. He is widely known mainly because of an investment joke that \"you can obviously rely on stock trading to make a living, but you want to engage in real estate\".</p><p>In 2009, Huang Chiheng opened a position<a href=\"https://laohu8.com/S/002252\">Shanghai RAAS</a>One year later, Shanghai RAAS's stock soared 150%, thus winning the title of \"the best retail investor\"; In 2014, Huang Chiheng spent hundreds of millions of yuan on subscription<a href=\"https://laohu8.com/S/002705\">Xinbao shares</a>, was once again crowned the title of \"the best new retail investor\". Some media even reported that Huang Chiheng made more money from stock trading than Helenberg Real Estate.</p><p>However, compared with earning a lot of money from his \"sideline business\", Huang Chiheng is not so lucky in operating his main business of real estate-because he missed the best opportunity to expand in the real estate industry, Helenberg Real Estate, which has submitted forms for listing many times, was shut out by the Hong Kong Stock Exchange because of the not-so-good financial data.</p><p>Now, Huang Chiheng has changed to a new track, ready to take advantage of the rise of property and push his property company Haiyue Life to the forefront. And what is the quality of Haiyue's life?</p><p>\"Water\" is big, \"fish\" is not big</p><p>Looking back at the history of the establishment of Haiyue Life, it can be seen that its predecessor was Guangzhou Helenberg Property founded by Huang Chiheng, the founder of Helenberg, and was established in 1999. Therefore, it seems that its qualifications are not shallow in the property management industry. Its business is similar to most property companies, covering a wide range of property types, including residential properties and non-residential properties such as industrial parks, shopping malls and office buildings.</p><p>As we all know, the growth space of a company is inseparable from the blessing of its market size, so let's take a look at the market space of Haiyue Life.</p><p>In recent years, with the rapid urbanization and the continuous growth of per capita disposable income, as well as the catalysis of the \"black swan\" of the public health incident in early 2020, the property management industry has lived up to expectations and ushered in a rising trend. The top 100 property service companies The construction area under management and the number of properties are also increasing rapidly at a rate visible to the naked eye.</p><p>According to data from the China Index Academy, the average total construction area under management of the top 100 property service companies increased from approximately 23.6 million square meters in 2015 to 42.8 million square meters in 2019, with a compound annual growth rate of approximately 16.0%. The average number of properties under management of the Top 100 Property Management Companies increased from 154 as of December 31, 2015 to 212 as of December 31, 2019, representing a CAGR of 8.3%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574937841237.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574937841237.png\"/></p><p>(Source: Middle Finger Academy)</p><p>Due to the increase in the GFA and quantity of properties under management, the average revenue of the top 100 property management companies has also increased significantly accordingly:</p><p>From approximately 540 million yuan in 2015 to approximately 1.04 billion yuan in 2019, with a compound annual growth rate of approximately 17.8%. In short, the property industry is in the development stage of a sharp increase in market size.</p><p>In this context, since Haiyue Life is also mainly involved in first-and second-tier cities such as Guangdong-Hong Kong-Macau Greater Bay Area, this will mean that the company will eat the double dividends of the rise of the property market and the regional advantages of first-and second-tier cities.</p><p>According to the prospectus, as of the end of December 2020, Haiyue Life had 150 projects under management and contracted, with a total contracted construction area of approximately 42.3 million square meters and a total construction area under management of approximately 24.3 million square meters, covering 57 cities in 15 provinces, municipalities and autonomous regions in China, focusing on other first-and second-tier cities in the Greater Bay Area, southwest China, East China and other economically developed regions, of which more than 50% of the construction area under management is located in first-and second-tier cities.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619574954512496.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619574954512496.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, unfortunately, compared with the above-mentioned market dividends, Haiyue's market scale is not very large, and it is at the middle level.</p><p>According to relevant data, in the 2020 ranking of listed property companies in terms of scale (area under management), the \"top three\" are<a href=\"https://laohu8.com/S/01778\">Color Life</a>、<a href=\"https://laohu8.com/S/06098\">Country Garden Services</a>、<a href=\"https://laohu8.com/S/06049\">Poly Property</a>The areas under management were 552 million square meters, 462 million square meters, and 380 million square meters respectively. However, the area under management of Haiyue Life in 2020 is only 24.3 million square meters, which shows that there is still a big gap with the scale of industry leaders.</p><p>At the same time, according to the prospectus, Haiyue Life ranks 22nd among the top 100 Chinese property service companies in 2021 in the China Index Academy, which is also in the middle and upper reaches.</p><p>Based on the above, although the prospects of the property industry are promising, for Haiyue Life, it means that \"the water is big and the fish is not big\".</p><p>Steady growth in performance, but external expansion capabilities need to be studied</p><p>It has to be said that although Haiyue Life does not have the advantage of scale, its performance growth is actually relatively stable.</p><p>In terms of operating performance, from 2018 to 2020, Haiyue Life's operating income was approximately 417 million yuan, 557 million yuan and 676 million yuan respectively, with a compound annual growth rate of 27.3%; The corresponding net profits were 46.329 million yuan, 77.034 million yuan and 97.966 million yuan respectively, with a compound annual growth rate of 45.4%.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575021933513.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575021933513.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>In terms of profitability, it is also steadily improving. From 2018 to 2020, the company's gross profit margins were 27.0%, 29.0%, and 30.7%, respectively, which continued to increase. The level of cash flow has also continued to grow steadily: during the reporting period, the company's net cash flow from operating activities was 110 million yuan, 118 million yuan, and 146 million yuan respectively.</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575039860551.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575039860551.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>However, compared with the above-mentioned stable financial data, although the asset-liability ratio of Haiyue Life has decreased year by year, it is relatively high among many property companies: According to the prospectus, from 2018 to 2020, the asset-liability ratio of Haiyue Life The ratios are 86.6%, 68.1%, and 58.1% respectively.</p><p>In addition, it should be pointed out that when subdivided into the business segment of Haiyue Life, some growth flaws may also be found.</p><p>For example, the revenue of community value-added services with high interest rate advantages is declining, lagging behind other property companies with rapid value-added community value-added services.</p><p>It is reported that Haiyue Life's income mainly comes from three divisions: property management services, non-owner value-added services, and community value-added services. In 2020, a peculiar growth phenomenon occurred in the company's business revenue growth of each segment-community value-added service revenue continued to decline, while non-owner value-added services continued to rise. In contrast, benefiting from the catalysis of public health incidents, most property companies in 2020 showed a state of \"the proportion of non-owner value-added service income showed a downward trend, and community value-added services increased rapidly.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575059548668.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575059548668.png\"/></p><p>(Data source: Haiyue Life Prospectus)</p><p>Doing the opposite means that Haiyue Life is getting farther and farther away from the community value-added services with the highest gross profit margin. According to the prospectus, the proportion of the company's community value-added service revenue gradually dropped from 8.4% in 2018 to 6.8%. You know, community value-added services are recognized as a high-margin business in the property industry, and its decline is not a good phenomenon.</p><p>Or, the current Haiyue Life also has the shortcomings of insufficient external expansion capabilities and being too dependent on the parent company.</p><p>According to the prospectus, the managed and contracted area of Haiyue Life is mainly contributed by Helenberg China Group and its related parties. Among them, the area under management and the contracted area in 2018 and 2019 both came from Helenberg. In 2020, an independent third-party project was added, with a contracted area of 83,000 square meters. It is not difficult to see the company's external expansion pressure.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210428/1619575076700085.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1619575076700085.png\"/></center><center>(Data source: Haiyue Life Prospectus)</center>To sum up, it is not difficult to see that the \"quality\" of Haiyue's life does not seem to be as good as its founder Huang Chiheng's stock trading level, and it has certain growth flaws, and the road to listing may not be as easy as imagined.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/461136.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1b5d60c72c5bab028f3d7d10da10eef2","relate_stocks":{"03913":"合景悠活"},"source_url":"http://www.zhitongcaijing.com/content/detail/461136.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2130376523","content_text":"4月23日，海伦堡旗下物业公司海悦生活控股有限公司(简称“海悦生活”)向港交所正式递交招股书，联席保荐人为农银国际、建银国际。在众多物业公司中，海悦生活算不上庸中佼佼，但如提起他的实控人黄炽恒，那可就故事多多了。据悉，海悦生活是由海伦堡地产的创始人黄炽恒成立的，直至目前黄炽恒拥有97%的股份，是该公司的实控人，而他被广为人知则主要是源于一个“明明可以靠炒股吃饭，却偏偏要搞地产”的投资段子。2009年，黄炽恒建仓上海莱士，一年后上海莱士股票飙升150%，由此获得“最牛散户”称号;2014年黄炽恒又因豪掷亿元申购新宝股份，再次被冠上“最牛打新散户”称号。甚至于有媒体报道称，黄炽恒炒股赚的钱比海伦堡地产赚的都要多。不过，相较于“副业”赚得盆满钵满，黄炽恒在经营主业房地产上却没那么幸运——由于错过地产行业最佳扩张时机，多次递表上市的海伦堡地产，终究因不太好看的财务数据被港交所置之门外。现如今，黄炽恒换了一条新赛道，准备乘着物业崛起的风口，把旗下的物业公司海悦生活推向台前。而海悦生活的成色又究竟怎么样呢?“水”大，“鱼”不大追溯海悦生活成立历史可知，它的前身是海伦堡创始人黄炽恒创立的广州海伦堡物业，成立于1999年。因而这样看起来，其也算是在物管行业中资质不浅了。而它的业务也大多物业公司相似，涵盖广泛物业类型，包括住宅物业以及工业园、购物中心及办公大楼等非住宅物业。众所周知，一家公司的成长空间离不开其所处的市场规模加持，所以下面不妨来看看海悦生活的市场空间究竟如何。近年来，随着快速城镇化及人均可支配收入的不断增长，以及在2020年初的公共卫生事件“黑天鹅”的催化下，物管行业不负众望地迎来崛起的风口，物业服务百强企业的在管建筑面积及物业数目也以肉眼可见的速度迅速增加。据中指院数据显示，物业服务百强企业的平均在管总建筑面积由2015年的约2360万平方米增至2019年的4280万平方米，复合年增长率约为16.0%。物业服务百强企业的在管物业平均数由截至2015年12月31日的154个增至截至2019年12月31日的212个，复合年增长率为8.3%。(数据来源：中指院)而由于在管物业的建筑面积及数量增长，物业服务百强企业的平均收益也相应地大幅增长：由2015年的约5.4亿元增至2019年的约10.4亿元，复合年增长率约为17.8%。简而言之，就是，物业行业正处于市场规模大幅攀升的发展阶段。在这个背景下，由于海悦生活还主要深耕粤港澳大湾区等一二线城市，这将意味着，该公司将吃下物业市场规模崛起及一二线城市区域优势的双重红利。据招股书披露，截至2020年12月底，海悦生活的在管和已签约项目共有150个，签约总建筑面积约为4230万平方米，在管总建筑面积约为2430万平方米，覆盖中国15个省份、直辖市及自治区57个城市，聚焦大湾区、中国西南部、华东以及其他经济发达地区的其他一、二线城市，其中有50%以上的在管建筑面积位于一二线城市。(数据来源：海悦生活招股书)不过，遗憾的是，相对于上述市场红利而言，海悦生活在市场的规模并不是很大，处于中游水平。据相关数据显示，2020上市物企规模(在管面积)排名中，“前三甲”分别为被彩生活、碧桂园服务、保利物业夺得，在管面积分别为5.52亿平方米、4.62亿平方米、3.80亿平方米。而海悦生活2020年的在管面积仅有2430万平方米，可见与行业龙头的规模还是存有较大差距的。与此同时，据据招股书披露，海悦生活在中指院的2021中国物业服务百强企业排名22，亦是处于中上游水平。综合上述来看，虽然物业行业前景可期，但对于海悦生活而言则颇有“水大，鱼不大”的意味。业绩稳健增长，但外拓能力有待考究不得不说的是，虽然海悦生活不具有规模优势，但实际上其业绩增长还是比较稳健的。经营业绩上，2018至2020年，海悦生活的营业收入分别约为4.17亿元、5.57亿元和6.76亿元，复合年增长率为27.3%;对应净利润分别为4632.9万元、7703.4万元和9796.6万元，复合年增长率为45.4%。(数据来源：海悦生活招股书)盈利能力方面，也处于稳步提升状态。2018年至2020年，该公司的毛利率分别为27.0%、29.0%、30.7%，不断提升。而现金流水平也不断稳健增长：报告期内，该公司经营活动所得现金流量净额分别为1.1亿元、1.18亿元、1.46亿元。(数据来源：海悦生活招股书)不过，相较于上述表现稳健的财务数据，海悦生活的资产负债率虽然逐年下降，但在众多物业公司中则算比较高：据招股书显示，2018年至2020年，海悦生活的资产负债率分别为86.6%、68.1%、58.1%。此外，需要指出的是，细分到海悦生活的业务板块上，或许还能发现其一些增长瑕疵。比如说，具有高利率优势的社区增值服务营收不断下降，落后于其它社区增值服务增值迅猛的物业公司。据悉，海悦生活的收益主要来源于物业管理服务、非业主增值服务、社区增值服务三个分部。2020年该公司各板块业务收入增长发生一个奇特的增长现象——社区增值服务收入不断下降，非业主增值服务则不断上升。与之相左的是，受益于公共卫生事件的催化，2020年大部分物企都呈现出“非业主增值服务收入占比呈下降趋势，社区增值服务增值迅猛”这一状态。(数据来源：海悦生活招股书)反其道而行的做法，则意味着海悦生活离毛利率最高的社区增值服务越来越远。据招股书显示，该公司的社区增值服务收入占比由2018年的8.4%逐渐降为6.8%。要知道，社区增值服务作为物业行业公认的高毛利业务，它的下降可不是一个好现象。再或者是，目前的海悦生活也存有外拓能力不足，过于依赖母公司的缺陷。据招股书显示，海悦生活的在管及已签约面积则主要由海伦堡中国集团及其关联方贡献。其中，2018年和2019年的在管面积和已签约面积均来自于海伦堡，2020年才增加了一个独立第三方的项目，签约面积为8.3万平方米，从中不难看出该公司的外拓压力。(数据来源：海悦生活招股书)综上所述，不难看出，海悦生活的“成色”似乎也并没有如其创始人黄炽恒炒股水平那么优秀，而存有一定增长瑕疵的它，上市之路恐怕也并没有想象中的那么轻松了。","news_type":1,"symbols_score_info":{"03913":0.9}},"isVote":1,"tweetType":1,"viewCount":2609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}