Nanshan Holdings(SZ:002314)2022-12-06 08:38Group 1: Logistics Development - Baowang Logistics has established a logistics network in key cities across the first and second-tier markets in China, covering regions such as Bohai Rim, Yangtze River Delta, Pearl River Delta, and Central-Western areas. The operational management area reached 1.8 million square meters in 2017-2018, with an expected growth to 5 million square meters by 2019 [3][4] - The market for logistics warehouse land is characterized by a scarcity of first-hand resources, with government pricing influenced by land conditions and financial pressures. Second-hand land prices are high due to limited first-hand resources and the presence of logistics real estate funds [3][4] Group 2: Financial Performance and Strategy - The company anticipates that its total sales for 2016 will remain stable or see slight growth compared to the previous year, with a strong profit performance already achieved in the first three quarters [5][6] - Baowang aims to invest over 10 billion in constructing logistics parks to meet its operational target of 5 million square meters over the next two years, exploring various financing methods including bank loans and asset securitization [4][5] Group 3: Market Position and Competitors - Baowang positions itself as a comprehensive logistics developer, focusing on service to enhance customer loyalty. The company expresses confidence in the logistics industry's growth over the next 5-10 years, driven by increasing demand from e-commerce and consumer goods [4][5] - The company faces competition from traditional logistics real estate developers and those like Cainiao and Suning, which develop logistics properties based on their own needs [4][5] Group 4: Corporate Resources and Integration - Nanshan Group, established in 1982, has significant land reserves (3.4 square kilometers) and a strong capability in land resource expansion, which is expected to synergize with the listed company [5][6] - The integration of Shenji Base and Nanshan Holdings aims to resolve B-share issues and promote the collaborative development of real estate and logistics park operations [5][6]