Stock Name: Ying Li
Company Name: YING LI INTL REAL ESTATE LTD
DBS Vickers Securities in a May 15 research report says: "Revenue increased four-fold to Rmb121 million. This was largely due to recognition of IFC office sales and 25% y-o-y increase in rental income IFC rental income started to flow in. "Due to a 220% increase in gross profit to Rmb50.5 million on higher revenue, Ying Li turned from a loss in 1Q11 to a profit of Rmb5.5 million in 1Q12. Excluding a one-off nonrecurring administrative expense, net profit would have been Rmb12.5 million. Ying Li is also executing well on the pre-sales of the residential portion of the Daping project, with more launches to come. "Ying Li is currently trading at 68% discount to its RNAV, which we see as an attractive entry level. Target price of 51 cents (40% discount to RNAV). MAINTAIN BUY."
Company Name: YING LI INTL REAL ESTATE LTD
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.51 |
DBS Vickers Securities in a May 15 research report says: "Revenue increased four-fold to Rmb121 million. This was largely due to recognition of IFC office sales and 25% y-o-y increase in rental income IFC rental income started to flow in. "Due to a 220% increase in gross profit to Rmb50.5 million on higher revenue, Ying Li turned from a loss in 1Q11 to a profit of Rmb5.5 million in 1Q12. Excluding a one-off nonrecurring administrative expense, net profit would have been Rmb12.5 million. Ying Li is also executing well on the pre-sales of the residential portion of the Daping project, with more launches to come. "Ying Li is currently trading at 68% discount to its RNAV, which we see as an attractive entry level. Target price of 51 cents (40% discount to RNAV). MAINTAIN BUY."
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