The company is a real estate company with a private background. The majority shareholders currently have a low shareholding ratio, and there is a possibility of mergers and acquisitions in the secondary market. Continued holdings reduction by majority shareholders and founding shareholders has come to an end, and the long-term decline in stock prices has weakened.

Small to medium real estate development companies, the development scale is small.

There was no capital market financing after the company went public. Refinancing has been initiated this year to revitalize the inventory project.

The company has a lot of monetary capital, but the company has no short-term debt, and there is a large amount of saleable housing in the inventory. The balance ratio is only 34.5%. Overall, the company has no short-term financial pressure. Over the past four years, the company has continued to liquidate inventories and reduce liabilities. At present, the company's inventory removal and deleveraging should have come to an end.

Investment highlights: After 4 years of de-inventory and deleveraging and continuous reduction in original shareholders' holdings over the past 3 years, the company has experienced the worst investment expectations. In the long run, the company's stock appeal will increase in the future.

It is estimated that the company's EPS per share in 2014, 2015 and 2016 will be $0.03, $0.04, and $0.05. Considering that the company's deleveraging and inventory removal have almost ended, and that the original shareholders' holdings reduction has also ended, the company has expectations of transformation and the potential for mergers and acquisitions in the secondary market, covering for the first time the investment rating given to the company to increase its holdings.