YingLI

YingLI: DBSV maintains BUY with $0.52 TP. Note that Chongqing, ‘the next Shanghai’ is attracting new projects by prominent Asian property developers. As an incumbent and early entrant, Ying Li is well positioned to ride on Chongqing’s economic growth and rising importance as Western China’s gateway city. With IFC completed, the focus is on Da Ping and Chongqing Financial Street projects. TP ased on 40% discount to RNAV.