Bank of China International initially gave Golden Wheel World (1232.HK) a purchase rating of HK $2.21; it refers to the unique form of Golden Wheel business, its development property is located in second-and third-tier cities, connected with the urban rail network, and the demand is expected to benefit from the development of the network; it also means that 62% of its gross output value comes from properties such as shopping malls, which can support long-term growth; refers to Golden Wheel since the beginning of the year, the contract sales are 500 million yuan, close to 31% of the annual target. The current price is 66% off the projected net asset value per share. Jinlun listed at HK $1.68 a share in January.