No particular news out today, however recent news surrounding Co. is the building of its International Finance Centre (IFC) in Chongqing, which have seen extremely good take up rates & offers so far….
Co. was initially targeting Rmb20,000psm, but investors were cited to be prepared to pay much more. When building is completed in 3Q11, it will be one of the few top grade office buildings in Chongqing. For yrs, the only office building in Chongqing that measured up to international Grade A standards was Li Ka Shing’s Metropolitan Tower and Plaza….
With the IFC, YingLi will add 71,000 sqm of office space and 50,000 sqm of retail space to its existing portfolio of 64,450 sqm retail space. We note that currently Yingli trades at a Steep Discount to RNAV of 83c/share, giving investors a significant margin of safety, and if grp managed to complete all projects in coming yrs, investors could see a potential steep bounce in earnings. Kim Eng has Buy Call with $0.50 TP.
No comments:
Post a Comment