According to a report released by UBS, the stock price of Sindh (00242-HK) has risen by about 50% in the past three months, mainly because the market is optimistic about the approval of the development of the company's South Bay coast project. As market optimism about the approval of the project was high, UBS narrowed its net asset value discount forecast for Sindh from 50% to 35%, and the target price of the stock rose sharply by 42.4% to 4.7 yuan from 3.3 yuan. UBS maintains Sindh's “neutral” rating and expects the net asset value of the South Bay Coast project to be about $2.5 per share. If the project development is approved, the bank's estimated net asset value of $7.8 per share will increase by about 30% by about 30% at the end of this year. UBS also pointed out that although the approval time for the South Bay coast project is still uncertain, the market is expected to be within 1-2 years.