Shanghai Industrial Co., Ltd has benefited from Shanghai property boom

Shanghai Industrial Holdings, which announced 2 billion yuan to buy four homes at the Shanghai World Expo Park, was back on the rebound today, with shares now falling only 0.78% to 31.65 Hong Kong dollars and trading 640,000 shares.　　BNP Paribas issued a report saying it maintained the stock's buying rating, raising the target price from HK $37 to HK $37.5, a premium of 25% per cent over Nav, and a 18% premium over the market. Faba, the Shanghai industry's previous takeover of the Gulf project only marginally increased net asset value (up 1.4%). Coupled with the recent sale of the Bright Dairy (600597-CN) stake in the renminbi 340 million yuan, the net debt/equity ratio is expected to remain at 5.7% of the health level for the 09 fiscal year. Faba believes that it is one of the main beneficiaries of the Shanghai property market boom, as a result of the acquisition of Low-cost property-related projects and the potential for parent companies to inject land reserves.