DBS maintained the buying rating of Beijing Jingkelong Commercial Group (0814.HK); the company was awarded 120 million A shares; DBS said that if the plan to return to A shares is completed, the total number of outstanding shares of Jingkelong will increase by 29.1% to 532.22 million shares. DBS said that the stock's recently proposed plan to issue A shares will also provide more financing channels for Jingkelon, thereby speeding up the company's expansion in the medium term and enhancing its brand image. This is particularly beneficial to Jingkelong's retail business. DBS lowered Jingkelon's target price from HK$8.56 to HK$8.34. Assuming that Jingkelon can successfully issue A shares before 2011, the new target price is equivalent to 18 times the expected earnings per share after full dilution in FY2011. The previous target price is equivalent to 17 times the expected earnings per share for FY2010. Beijing Jingkelong Commercial Group rose 1.08% throughout the day to close at HK$7.50