Ying Li

Ying Li: CIMB has an unrated rpt on the counter. The house notes that given its focus on high-end commercial development in Chongqing, Ying Li is expected to benefit from China’s Great Western Development China Everbright (CEL)’s strategic investment into Ying Li could improve Ying Li’s Outlook. Given its key investments locations in the core CBD area of Chongqing, Ying Li is likely to be a prime beneficiary of Chongqing’s endeavours to become the financial centre of Western China. CEL’s strategic investment in Ying Li has significantly improved its outlook. The house estimate that Ying Li is worth $0.23-0.25, based on 40-45% discount to CY14 RNAV.