Yanlord: Strong sales momentum in 2Q16 results
-2Q16 net profit Rmb323.9m (+89%)
-2Q16 revenue Rmb7.4b (+3x) on increased GFA delivered (+197%) and higher ASP (+12%)
-Bottom line pared by small gross margin, FX loss, and absence of land divestment gains
-Unbooked pre-sales Rmb28.88b as at Jun '16
-Management remains positive on outlook amid healthy demand in China
-Trading at 0.58x P/B and 8.2x FY16e P/E
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