IPO purchase recommendations:

Guorui Real Estate was founded by founder Chairman Zhang in 1994 in Shantou, Guangdong Province. In 2000, Guorui Real Estate entered the property development market in Beijing and developed residential and commercial properties in Beijing, and strategically located in other major cities in China, such as Panyang, Haikou, Wanning, Langfang, Zhengzhou, Shantou, Foshan and Xi'an. As of 2014/3/31, the company has six property projects and five projects in the Nogan phase. The total construction area under development is 1.4 million square meters, while the total construction area for future development is about 5.0 million square meters.

The company has entered into agreements with three cornerstone investors, who have agreed to subscribe for shares worth a total of HK$7.17 million per month at the sale price. Assuming the sale price is HK$2.57, that is, the total number of shares subscribed by the cornerstone investors is about 278.988 million shares, which is equivalent to about 6.32% of the shares issued abroad and 42.16% of the shares sold after the global sale is completed. Beijing Fifth Construction Project and Best Class and their ultimate controllers are each independent third party unrelated to the company. China Biopharmaceutical is an independent third party unrelated to the company, and the three companies will not become the main shareholders of the company after listing.

The company's net profit for 2011, 2012 and 2013 was RMB 597 million, RMB 1,029.7 million and RMB 2,233.8 million respectively, with a compound growth rate of 93%, mainly due to the increase in property sales. In 2013 PE: 3.6-4.5, recommended for purchase.