China Tracker - Details for China Housing & Land Dev (CHLN)

 China Housing & Land Dev
Shares Outstanding (MRQ): 35.58 mill 
New Shares / Dilution (TTM): 4.40 mill14.11% 
New Shares / Dilution (since Dec 31, 2008): 5.05 mill16.55% 
Cash (MRQ): 46.90 mill0.00%
Account Receivables (MRQ): 9.30 mill0.00%
Account Receivables (Q/Q): -2.53 mill  
Long-Term Debt (MRQ): 16.25 mill0.00%
Revenue Growth (Q/Q): 5.89% 
Revenue Growth (Y/Y): 38.48%
Net Income Growth (Q/Q): -55.54% 
Net Income Growth (Y/Y): N/A (BACK TO PROFITABILITY)
EPS Growth (Y/Y): N/A (BACK TO PROFITABILITY)
Net Margin (Q/Q): 6.8% (16.1%)-9.30% 
Net Margin (Y/Y): 6.8% (-4.0%)10.80% 
EPS | P/E (2 MRQ Projection): $0.440.00 
CFPS | P/CF (2 MRQ Projection): -$1.030.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: MSCM
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2011-03-15): $0.700.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2006-04-21 
Uplisting to Senior Exchange: on 2008-05-16 at $4.60 (-100.00% since Uplisting)

 Business Outlook

The local government in Xi'an slowed down the approval process for new development projects resulting in a pre-sales schedule delay for our three outstanding development projects scheduled for this year. We now believe JunJing III, Park Plaza and Golden Bay will commence pre-sales at the end of our third quarter of 2011, in the fourth quarter of 2011 and the first quarter of 2012, respectively.

After the local government implemented policies designed to slow down the new supply of development projects, Xi'an's housing sales volume decreased dramatically in March, but since that time, has gradually risen each month and as of the end of June is 66% above its March lows. We are also pleased to see that average selling prices in Xi'an have remained steady throughout these policy changes, which bodes well for our current and upcoming residential projects.

We expect the majority of our project revenue in the second half of 2011 to come from our Puhua Phase One, Puhua Phase Two, JunJing III, and Park Plaza projects. Based on the delayed permit approval process for our latest development projects, we have lowered our full year expectations for contact sales and recognized revenue. We are optimistic that our delayed projects will move forward as buyers continue to show signs of returning to the market.

Total contract sales in 2011 are expected to reach $180 to $200 million, a 22%-35% increase compared to $148 million in 2010. Total recognized revenue in 2011 is expected to reach $135 to $155 million, compared to $140 million in 2010. Gross margin in 2011 is expected to reach 30%-35%.

(Source: PR Newswire, 2011-08-15)

Total contract sales in 2011 are expected to reach $250 to $290 million, a 140%-179% increase compared to $148 million in 2010. Total recognized revenue in 2011 is expected to reach $200 to $220 million, a 43%-57% increase compared to $140 million in 2010. Gross margin in 2011 is expected to reach 30%-35%. The Company is reporting contract sales estimates compared to revenue as it is not subject to percentage of completion alterations.

"We are confident that buyers will return to the market as they have in the past with other rounds of government policies. Currently, we have three projects scheduled to commence pre-sales for the remainder of this year and are comfortable that the necessary permits can be secured to commence pre-sales for these projects in the second and third quarter periods. We have a stable lineup of projects that will benefit our overall performance in 2011. For the remainder of 2011, five projects will serve as primary contributors to our revenue--this includes Puhua Phase I, Puhua Phase II, JunJing III, Park Plaza, and Golden Bay. Each project develops middle to high end apartment units, which can contribute to our ASP and gross margin performance going forward. In spite of a weaker than expected first quarter, we are optimistic that 2011 will be a solid year of growth for our company."

(Source: PR Newswire, 2011-05-16)

Total contract sales in 2011 are expected to reach $250 to $290 million, a 140%-179% increase compared to $148 million in 2010. Total recognized revenue in 2011 is expected to reach $200 to $220 million, a 43%-57% increase compared to $140 million in 2010. Gross margin in 2011 is expected to reach 30%-35%. The Company is reporting contract sales estimates compared to revenue as it is not subject to percentage of completion alterations.

(Source: PR Newswire, 2011-03-14)

    see all Business Outlook notes


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 Analyst Coverage (show more)
2011-08-16Roth CapitalReiterationBuy$4.00
2011-05-17Roth CapitalReiterationBuy$6.00
2011-03-21Global HunterDowngradeTerminatedn/a
2011-03-18Roth CapitalReiterationBuy$6.00
2011-03-15Global HunterReiterationBuy$5.50

CHLN is currently followed by 2 analysts. Both give the stock a positive rating. The average price target is 5.00.


    see all Analyst Ratings

 Investor Presentations
2010-03-01 (PDF)   DOWNLOAD (right click, save as)
CHLN
Real Estate
SCORE
2
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SAFETY/RISK SCORE
MODERATE RISK
DETAILS: Safety/Risk Model for CHLN
Current Price:  n/a
F10k Day (2006-05-09): -100.00%$3.90
2009 Close: -100.00%$4.13
2010 Close: -100.00%$2.74
2011 Close: -100.00%$1.00
High (2012-06-25): -100.00%$2.06
Low (2012-02-23): -100.00%$1.15
Exchange:
Market Capitalization: n/a
Total Shares: 35.58 mill
Float: n/a
Avg Volume: 55.40 k
Short Interest: 1.05 mill
Short Ratio: 3.98%18.9 d
Last Quarter: 2010-12-31
Revenue (MRQ): 36.05 mill
Net Income (MRQ): 2.43 mill
Op. Cash Flow (MRQ): -25.36 mill
all financial data provided without warranty