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(26-03-2014, 01:21 AM)Nick Wrote: [ -> ]

(25-03-2014, 11:47 PM)starcraft_76 Wrote: [ -> ]NTA is now @ RMB 1.57 = SGD 0.32

Slight increase compare to RMB1.47 back in year 2012.

Btw, CapitaLand's PE is 14x and it have a dividend yields of 2.x, which seems that CapitaLand is a better buy instead, unless Ying Li's price drop further?

(vested)

Wouldn't it be better to compare it with HK listed China-based developers since Capitaland has substantial non-China operations ? I noticed in the b/m report, Chinese developers are trading at single digit PE with some at dividend yield exceeding 8%.

http://www.aastocks.com/marketcomment/pdf/122966.pdf [Page 6]

(Not Vested)

Thx for sharing this. I always had an impression that stock listed in HK exchange is having better valuation. However, Ying Li's which listed in SGX seems having much much better valuation compared to its peer listed in HK Exhange.

Ying Li's stocks went up 10% yesterday with 24.66M shares changing hands. Something big must be happening. Anybody know what's going on or has happened to Ying Li lately besides all the bad news that came out? The 1Q14 results were OK but not great; very hard to tell from the Quarterly figures because in FY13, some 93% of the entire FY's net income came from the 4Q results.

Don't know what's happening. However, sold some of my holding yesterday.

(Still vested)

Me too, had to recoup some of my previous losses in case the price goes south (again)! I'm still vested - always hopeful but not sure I am justified in doing this though. My own analysis shows that the financials are weak at this moment relative to the property development environment in China, coupled with the S-chips stigma of course. Good luck!

New developments with Ying Li announced today:

 China Everbright Limited (“CEL”), listed on the Hong Kong Stock Exchange (code: 165) and the asset management arm of financial conglomerate China Everbright Group, has agreed to invest S$284 million in Ying Li through the subscription of new shares and perpetual convertible securities
 CEL will become the second largest shareholder of Ying Li after the share subscription, ranking next to Mr Fang Ming, the Executive Chairman and CEO of the Group
 Ying Li will use the monies to accelerate development of existing projects and finance new projects
 Ying Li aims to leverage on CEL’s network and strong connections to secure projects in prime locations in the first- and leading second-tier cities in China, as well as seek expansion into Singapore and Hong Kong

Looks like at least the risk of interest rate increase is abated as YL is quite highly leveraged. But the strategic cooperation claims to create new biz opportunities besides providing financial comfort for YL.

There was a spade of high transactions this morning, but I decided to hold back and take stock of what this all means first. Any views from forumers? (vested)

(30-06-2014, 11:10 AM)sykn Wrote: [ -> ]New developments with Ying Li announced today:

 China Everbright Limited (“CEL”), listed on the Hong Kong Stock Exchange (code: 165) and the asset management arm of financial conglomerate China Everbright Group, has agreed to invest S$284 million in Ying Li through the subscription of new shares and perpetual convertible securities
 CEL will become the second largest shareholder of Ying Li after the share subscription, ranking next to Mr Fang Ming, the Executive Chairman and CEO of the Group
 Ying Li will use the monies to accelerate development of existing projects and finance new projects
 Ying Li aims to leverage on CEL’s network and strong connections to secure projects in prime locations in the first- and leading second-tier cities in China, as well as seek expansion into Singapore and Hong Kong

Looks like at least the risk of interest rate increase is abated as YL is quite highly leveraged. But the strategic cooperation claims to create new biz opportunities besides providing financial comfort for YL.

There was a spade of high transactions this morning, but I decided to hold back and take stock of what this all means first. Any views from forumers? (vested)

YingLi must be cash strapped coz Boss took a big dilution to raise equity.

Fully Diluted NTA - RMB 1.5 or SGD 30 cents. Where is the meat?

CEB spent money buy Yingli at P/NTA 1 while its PB at 0.59. Good capital allocation?

http://hkm.appledaily.com/detail.php?gui...e=20140630

何車500：光控PB偏低值博 - 何車

光大控股（165）是1997回歸後跌幅第三大的紅籌股，當年最高37.70元，現價10.42元，跌幅達72%，當年最高PE 504倍，市場流傳「有嘢賣，搵光大」。以高估值代價做股東，當然哀哉。年初至今，跌幅15%，大過紅指跌幅（5%）及內銀股，有博反彈吸引力。

1）2013年（12月年結），光控營業額81.57億元，升1倍；盈利13.47億元，增18%。光大證券（光控佔33.33%）去年在內地股票買賣發生問題，被罰5.23億元人民幣（約6.49億港元），光控承擔2.16億元，相等於去年盈利16%。今年再無同類罰款，已可使集團盈利回升一成多。現價10.42元，往績PE 13.3倍，彭博綜合預測，今年PE 11.1倍，明年9.6倍。近五年平均PE 14倍，明年PE折讓31%。光控的估值，亦較大多數中資證券股為低。

2）今年預期PB 0.59倍，較近五年平均0.85倍折讓31%。中信証券（6030）預期PB 1.62倍，海通國際（665）與銀河證券（6881）分別1.07倍及1.09倍。市值略少於光控的新鴻基公司（086）已由年初0.69倍至今至0.98倍。

★光控的PB偏低吸引力足，彭博綜合證券商推介，平均目標價14.02元，折合今年PB仍僅0.79倍。

http://www.businesstimes.com.sg/premium/...t-20140702

PUBLISHED JULY 02, 2014
Why Ying Li attracts China Everbright
Its business model and focus seen as positive features
BYCAI HAOXIANG
haoxiang@sph.com.sg @HaoxiangCaiBT
PRINT |EMAIL THIS ARTICLE
CHINA Everbright Limited (CEL), which will be pumping $284 million into Ying Li International Real Estate, has cast its eyes on the Singapore mainboard-listed Chongqing developer because of its attractive features: its business model and focus.
The Hongkong-listed company also likes Chongqing's economic and political landscape: strong growth amid China's slowdown and its position as a high-ranked city.
James Pan, Everbright head of real estate investment and fund raising, said at a press conference yesterday: "If you look at the top 100 developers in China, they aggressively acquire land, do residential, sell to customers ... Our view is that this model has to be changed."
The high leverage and indiscriminate land purchases in lower-tier cities made by other developers did not put them in good stead when the market changed, he noted. China is now facing a property market downturn, especially in its second- and third-tier cities.

Ying Li touched the low of 24cts and is currently around 25cts. Any taker?

While the current price look attractive as CEL invested @ 26cts. However, the CEL deal included some sort of loan / bond issued with attractive interest return.. so, it might not be right to assume that the price now is interested using 26cts as yardstick?

(10-08-2014, 04:24 AM)starcraft_76 Wrote: [ -> ]Ying Li touched the low of 24cts and is currently around 25cts. Any taker?

While the current price look attractive as CEL invested @ 26cts. However, the CEL deal included some sort of loan / bond issued with attractive interest return.. so, it might not be right to assume that the price now is interested using 26cts as yardstick?

Why would one feel investing below the acqusition price of the Big Boys will be any sort of comfort or attractiveness?

CEL will have substantial decision power on the company's direction/board if the convertible bonds are converted - an OPMI can never beat them no matter how much lower he pays. The delta would be the control premium..