Stock Name: Yanlord
Company Name: YANLORD LAND GROUP LIMITED
Research House: RBS
The brokerage also expects Yanlord to record a low gross margin of 35%, but a net gearing of 71% by the end of the year which is relatively high for Chinese property
Company Name: YANLORD LAND GROUP LIMITED
Research House: RBS
RBS has cut its rating for Singapore-listed Chinese property developer Yanlord Land (YNLG.SI) to hold from buy and lowered its target price to $1.46 from $2.07.
RBS said that Yanlord Land could fall short of its full-year sales target of 11 billion yuan by launching only prime, high-end projects for the rest of the year, due to purchase limits set by the Chinese government.
RBS said that Yanlord Land could fall short of its full-year sales target of 11 billion yuan by launching only prime, high-end projects for the rest of the year, due to purchase limits set by the Chinese government.
The brokerage also expects Yanlord to record a low gross margin of 35%, but a net gearing of 71% by the end of the year which is relatively high for Chinese property
developers.
At 11:00 a.m., shares of Yanlord Land were flat at $1.33, and have plunged 20.8% since the start of the year.
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