China resources land rose more than 2% chairman's resignation Ninrishin still holds the top choice

The first 5 months of this year, the contract sales increased by nearly 6 times times to 8.68 billion yuan of the resources of the land opened this morning, 2.39% to 16.3 Hong Kong dollars, deal 1.43 million shares. The company announced changes in executive notice that Lin has resigned as chairman of the Board in order to concentrate on the operations of its chairman, the parent company of China Resources, the former managing director, Wang Yin, and the general manager of China Resources (Shenzhen) Limited, Xiangdong will be the new managing director of China Resources.　　The announcement said Lin and the board did not disagree. Credit Suisse issued a report saying that the company maintained its top-ranked market rating and still listed as its preferred stock, with the target price rising from HK $14.6 to HK $22.7, which was equal to the net asset value of fiscal Year 10 (the original target price was a discount of 20%), at a premium of 39%. Refers to China resources land to the real estate sales as a priority development priorities, and the recent rights issue has been positive, placing shares means that the company will carry out the acquisition of free cash flow level. Other positive factors include: The 09 fiscal year's profit predictability, financial health, net debt/equity ratio of about 33%, the year to date strong sales, despite the downward trend in the market, but the company's 08 financial year performance of the firm Jian Rui Letter also suggested that the stock potential price catalyst is a large Shenzhen project-China Resources Center two, It is expected that the project will soon start pre-sale, Credit Suisse is expected to sell up to 35,000 yuan/square meters, far higher than the market earlier forecast value of 25,000 yuan-30,000 yuan/square meters.