[Abstract] Bank of America Merrill Lynch published a report that initially gave South China City a “buy” investment rating and a target price of 4.6 yuan. This is equivalent to predicting a price-earnings ratio of 9 times in 2015, indicating that it is a leader in integrated trading centers in the mainland. Bank of America Merrill Lynch published a report. It initially gave South China City (01668.HK) a “buy” investment rating and a target price of 4.6 yuan. This is equivalent to predicting a price-earnings ratio of 9 times in 2015, indicating that it is a leader in integrated trading centers in the mainland. The bank favors urban areas where it operates, and it is expected that South China can benefit from strong demand in the mainland wholesale market. According to Bank of America Merrill Lynch, transactions in the mainland wholesale market are growing rapidly. South China City predicts a compound growth rate of 42% in contract sales from 2013 to 2016, and the company's recurring revenue is expected to increase from 309 million yuan last year to 1.3 billion yuan in 2016. The bank indicates that South China City enjoys competitive land costs. It is estimated that the company's gross margin will reach 50% and net profit margin will be 20% this year. The bank estimates that South China City's earnings per share from 2014 to 2016 were $0.32, $0.483 and $0.644, respectively, up 12.6%, 45.6% and 33.2% year-on-year, respectively.