Amid the backdrop of the recent market weakness, I have done my personal compilation of stocks whose past year Price to Book Value (“P/BV”) are lower than their average five year P/BV (see my http://ernest15percent.com/index.php/2015/09/11/ernests-market-outlook-14-sep-2015/ for more information.) I noticed that Ying Li International Real Estate Limited (“Ying Li”) past year P/BV is only 0.38 and is significantly below its average five year price to book of around 1.19. However, as there is no recent rated coverage on Ying Li, I have left out Ying Li in my personal compilation of stocks above. Notwithstanding this, Ying Li looks interesting and I decide to take a closer look in this company.

Ying Li is the first Chongqing-based property developer to be listed in Singapore. It is engaged in the development, sale, rental, management and long-term ownership of high-quality commercial and residential properties in ...