Ying Li has been on downtrend since beginning Aug, down 7.1% mth-to-date, fails to draw interest with latest land acqn. Stock flat at $0.395, on par with book value. China-based developer bought prime site in Chongqing for Rmb697m to build office-cum-retail property, due by end-2013. Despite aggressive growth plans, investor interest remains low as earnings in coming quarters expected to remain weak until its mega IFC project, comprising office and retail space, is ready by 2011.
Ying Li booked losses of Rmb21.4m in 2Q10 & Rmb13.5m in 1Q10 on lower property sales, higher interest expenses.
No comments:
Post a Comment