Zhongmin Baihui

Zhongmin Baihui: Has opened its maiden store outside of Fujian. The four-storey Nanjing Nanzhan Store is the largest store of Zhongmin Baihui, which operates and manages retail malls in Fujian. This will raise total GFA of the grp by 30% to 1.6m sf. The grp expects to open three new stores - Xiamen Zhongshan Store, Quanzhou Qiaonan Store and Zhangzhou Longwen Store - by end-2013 in Fujian. Co is trading at 99.8x P/E and 23.1 P/B