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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Shanghai International Port (Group) Co Ltd    600018   CNE0000013N8

SHANGHAI INTERNATIONAL PORT (GROUP) CO L

(600018)
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Shanghai International Port : Riverside parks, developments revitalize dock

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05/24/2019 | 01:27am EDT

Two riverside parks and a new waterfront section along the Yangtze River have been created from a former container dock in Baoshan District.

Once a bustling center for maritime trade, Shanghai Long Beach, or Changtan area, is being developed for housing and leisure.

The riverside, which stretches for 1.8 kilometers along the Yangtze, will be on par with London'sCanary Wharf and Germany's Hamburger Hafen, the Shanghai International Port Group (SIPG) said yesterday.

The 770,000-square-meter project, twice the size of Canary Wharf, will have 4,200 apartments, parks, shopping malls, restaurants and coffee shops, hotels and kindergartens, the group said.

A hillside park and a waterfall park opened to the public yesterday offer a glimpse of the ongoing redevelopment.

Many industrial relics such as the last-remaining grab bucket have been retained to decorate the 36,000-square-meter hillside park.

Port's history highlighted

The 41,000-square-meter waterfall park features the city's biggest artificial waterfall at 5 meters tall and 36 meters wide.

"Our vision for the park started with the premise that great communities have great parks," said Tom Balsley, chief landscape designer with the company behind the parks,SWA/Balsley.

Total greenery coverage for the area will reach 280,000 square meters, the equivalent of 40 football pitches. Residential buildings covering 500,000 square meters have been built among the parks along with some 380,000 square meters of commercial and office facilities. Underground garages have parking spaces for 11,000 vehicles.

Architectural designs have highlighted the port's history and riverside location. The buildings have been designed with the features of luxury yachts since the waterfront region will develop a yacht club for about 270 boats in the future.

A commercial complex has been designed in the shape of two Yangtze River dolphins.

Redevelopment of the area, which will be completed by the end of 2021, will also feature a 180-meter sightseeing tower.

A ball-shaped IMAX cinema will become the third-largest in the world after the LG IMAX Theatre in Sydney and an IMAX cinema in Singapore. Its screen will be 22.4 meters wide and 12 meters tall.

The water of the Yangtze River will be poured into the complex to make the whole project look like two dolphins playing with a pearl in the river, according to the designer of the cinema.

An underground structure has been finished for a Crystal Concert Hall,another cultural landmark for the north part of the city. The structure is scheduled to be completed by early next year.

The northern district, renowned for its container ports and iron and steel industries, has long lacked cultural venues, especially large theaters.

The site was once dubbed the "pearl of Baoshan" due to its bustling container transport and storage functions.

The district government and SIPG launched the redevelopment in 2012.

With a total investment of 15 billion yuan (US$2.16 billion), the project is expected to create about 14,000 jobs.

(c) 2019 Shanghai Daily Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CNY)
Sales 2019 39 392 M
EBIT 2019 14 445 M
Net income 2019 9 453 M
Debt 2019 18 421 M
Yield 2019 2,10%
P/E ratio 2019 16,8x
P/E ratio 2020 14,5x
EV / Sales2019 4,47x
EV / Sales2020 3,85x
Capitalization 158 B
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Number of Analysts 9
Average target price 7,80  CNY
Last Close Price 6,81  CNY
Spread / Highest target 49,6%
Spread / Average Target 14,5%
Spread / Lowest Target -7,49%
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Jun Yan President & Director
Xu Yuan Chen Chairman
Kang Gao Chairman-Supervisory Board
Yuan Kang Zhou Member-Supervisory Board
Ke Zhang Wang Director
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