GLPSP：Updates after rating downgrade
https://www.cmbi.com.hk/article/8947.html?lang=tc
最有價值收息股研究所 @ 9
加藤惠_
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其實除左路勁同GLP 可以望埋新城
https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0830/2023083001836_c.pdf
有息負債 479 + 256 = 735 億
NET DEBT = 735 - 207 CASH = 528 億
佢投資物業係全國百幾座吾悅廣場 = 1146 億
每年收緊100 億租金
未計PPE 76 + 聯營 130 + 合營 126 = 332 億
已經冇計佢D存貨 學大飛巴成日講打50%都夠找有剩
黎緊A股仲有計劃發45 億人仔定增
2026年到期美元債先做緊20蚊
新城表外債務指標良好，且可透過分拆商場以房託上市、出售其商管業務或進一步抵押商業資產去獲取流動性，較同儕更有優勢。
FUTLAN/FTLNHD: Plans to issue 4th CBICL-guaranteed notes
https://www.cmbi.com.hk/article/8912.html?lang=tc
Seazen - Too much downside priced in
https://www.cmbi.com.hk/article/8757.html?lang=en
中期财报“新”评系列——新城控股“稳”从何来
https://xueqiu.com/1687753590/260270804
https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0830/2023083001836_c.pdf
有息負債 479 + 256 = 735 億
NET DEBT = 735 - 207 CASH = 528 億
佢投資物業係全國百幾座吾悅廣場 = 1146 億
每年收緊100 億租金
未計PPE 76 + 聯營 130 + 合營 126 = 332 億
已經冇計佢D存貨 學大飛巴成日講打50%都夠找有剩
黎緊A股仲有計劃發45 億人仔定增
2026年到期美元債先做緊20蚊
新城表外債務指標良好，且可透過分拆商場以房託上市、出售其商管業務或進一步抵押商業資產去獲取流動性，較同儕更有優勢。
FUTLAN/FTLNHD: Plans to issue 4th CBICL-guaranteed notes
https://www.cmbi.com.hk/article/8912.html?lang=tc
Seazen - Too much downside priced in
https://www.cmbi.com.hk/article/8757.html?lang=en
中期财报“新”评系列——新城控股“稳”从何来
https://xueqiu.com/1687753590/260270804
新城 好處你講左 同埋 早幾年老細衰11 變相早幾年縮表
但缺點係 啲土儲垃圾 ，樓花 + 工程款 太高 ，無乜offshore野 ，無港資背景
但缺點係 啲土儲垃圾 ，樓花 + 工程款 太高 ，無乜offshore野 ，無港資背景
GLP $30 , 其他不了
明白 我估大飛巴都係
呃人既,假GA
都係FAIL
講呢D, 我其實唔係註冊左好耐
考試就考完7年
你所講GE 其實先由operation 角度出發
你所提及應該講緊將AR 賣出去
如果賣斷左 --> 銀行直接比錢你, 咁好難唔係當錢
但如果你contract 只係講緊 送比銀行幫你追數, 如果追到就分commission 比銀行say 20-30%
咁就唔可以當賣左比銀行
呢D AR 其實簡單D 你當係asset
你賣斷左asset, 冇左ownership, 就唔係你
冇賣斷, 你仲有ownership 就係你
至於你講緊cash 唔cash , 簡單會計諗法就係講緊 within 3個月 (多數, 並非100%, 要睇你公司operating cash cycle)
唔知上面解唔解答到你
利申: 而加純靠記憶講, 有可能錯
考試就考完7年
你所講GE 其實先由operation 角度出發
你所提及應該講緊將AR 賣出去
如果賣斷左 --> 銀行直接比錢你, 咁好難唔係當錢
但如果你contract 只係講緊 送比銀行幫你追數, 如果追到就分commission 比銀行say 20-30%
咁就唔可以當賣左比銀行
呢D AR 其實簡單D 你當係asset
你賣斷左asset, 冇左ownership, 就唔係你
冇賣斷, 你仲有ownership 就係你
至於你講緊cash 唔cash , 簡單會計諗法就係講緊 within 3個月 (多數, 並非100%, 要睇你公司operating cash cycle)
唔知上面解唔解答到你
利申: 而加純靠記憶講, 有可能錯
可以, 以前有見過
但好撚平
好似得20-30%
但唔記得個陣間公司係咪賣比銀行
但好撚平
好似得20-30%
但唔記得個陣間公司係咪賣比銀行
只係將擁有權賣比人
乜野asset 都可以賣
問題係 - 如果間公司都覺得收唔番bad debt, 憑咩覺得人地會收得番 而點解人地要幫你買
幫你追下數收你commission 仲好, Risk 又低D
乜野asset 都可以賣
問題係 - 如果間公司都覺得收唔番bad debt, 憑咩覺得人地會收得番 而點解人地要幫你買
幫你追下數收你commission 仲好, Risk 又低D
China SCE同Cogard default前都係發左中債MTN同refinance左bank loans
感覺唔代表d咩
感覺唔代表d咩有印像睇過幾間美股公司有
都係睇 footnote & Cash Flow statement
都係睇 footnote & Cash Flow statement
URI 有賣過
annual report 有寫
annual report 有寫
呢個時候 搵啲現樓多 賣左真係落到袋還錢 好過賣完就要填另一個盤既樓花 安全啲
1. 同佢地有少少唔同 新城抵押既係吾悅
置换個比例實高過用樓
而且佢仲有50座未融
龍湖一樣有天街
2. 佢黎緊已經係第4次發中債 加埋之前3次
已經有 15+ 38.5 = 53.5 億
幫到佢528 億淨負債好多
仲有幾張10 億 8 億既短債
3. 一樣係民企 碧柱圓個幾間負債太勁啦
融個少少係救唔返 倒錢落海 佢主要賣樓係急跌
反而新城早幾年出事 一早已經去槓桿 少拎地
咁當然佢都有缺點 基巴都講左
置换個比例實高過用樓
而且佢仲有50座未融
龍湖一樣有天街
2. 佢黎緊已經係第4次發中債 加埋之前3次
已經有 15+ 38.5 = 53.5 億
幫到佢528 億淨負債好多
仲有幾張10 億 8 億既短債
3. 一樣係民企 碧柱圓個幾間負債太勁啦
融個少少係救唔返 倒錢落海 佢主要賣樓係急跌
反而新城早幾年出事 一早已經去槓桿 少拎地
咁當然佢都有缺點 基巴都講左
Paypal 賣過 BNBL 嘅loan 比 KKR(資產管理公司)
In June 2023, we entered into a multi-year agreement to sell up to €40 billion of U.K. and European buy now, pay later (“BNPL”) loan receivables originated by PayPal (Europe), consisting of the sale of a substantial majority of the U.K. and European BNPL loan portfolio held on PayPal (Europe)’s balance sheet at the closing of the transaction and a forward-flow arrangement for the sale of future originations of eligible loans.
The closing of the transaction and the sale of future receivables are subject to certain conditions. If these conditions are not satisfied or waived or if the parties are unable to fulfill their obligations under these arrangements, the sale of these receivables could be delayed or not take place at all and we may not realize the expected benefits of this arrangement.
In June 2023, we entered into a multi-year agreement to sell up to €40 billion of U.K. and European buy now, pay later (“BNPL”) loan receivables originated by PayPal (Europe), consisting of the sale of a substantial majority of the U.K. and European BNPL loan portfolio held on PayPal (Europe)’s balance sheet at the closing of the transaction and a forward-flow arrangement for the sale of future originations of eligible loans.
The closing of the transaction and the sale of future receivables are subject to certain conditions. If these conditions are not satisfied or waived or if the parties are unable to fulfill their obligations under these arrangements, the sale of these receivables could be delayed or not take place at all and we may not realize the expected benefits of this arrangement.
龍湖呢
夠cash, 但仲買緊地
夠cash, 但仲買緊地
