Yanlord Land Group’s FY13 results in line but financial position is better than expected.
2014 sales target of Rmb16.8bn appears to be achievable.
Yanlord continues to speed up construction for future growth, but moving inventory is more important.
Maintain HOLD, target price S$1.24.
Source: DBS
Haimen is the most less polluted city as its location near E .China sea.
Did any buddy attend the AGM yesterday, can share the highlights ? Thanks.
More than 2 thousand buddies but not even one attended the agm ?
YANLORD 1Q 2014 PROFIT ATTRIBUTABLE TO EQUITY HOLDERS
JUMPS
THREE FOLD TO RMB266.0 MILLION
Revenue in 1Q 2014 rose steadily by 5.0% to RMB1.763 billion on higher average
selling price (“ASP”) achieved for the period.
Continued growth in contribution from the Sino-Singapore Nanjing Eco Hi-Tech
Island joint venture to RMB99.6 million in 1Q 2014 coupled with higher other income
propelled net profit attributable to equity holders of the Company up 295.2% to
RMB266.0 million in 1Q 2014.
Yanlord’s high quality developments continue to be well received by home buyers in
the PRC. As at 31 March 2014, advances received for pre-sale properties was
RMB7.024 billion, with a total pre-sale amount of RMB10.156 billion, which will be
progressively recognised in subsequent quarters providing greater transparency and
confidence of the Group’s FY 2014 financial performance.
The Group continues to maintain a healthy financial position. Cash and cash
equivalents of RMB5.873 billion as at 31 March 2014, coupled with net debt to total
equity gearing ratio of 48.8% will serve to fuel the Group’s future development.
http://infopub.sgx.com/FileOpen/14-05-20...eID=297089
Solid set of result , but will market appreciate it ?
Small token of appreciation, hope to have more . Believe good fundamentals are hard to ignore.