CENTRAL CHINA REAL ESTATE LIMITED
(8 January 2015 - Hong Kong) -- Central China Real Estate Limited ("CCRE" or the "Company", together with its subsidiaries, the "Group"; SEHK stock code: 832), was pleased to be notified that BNP Paribas has issued an initiation coverage research report on 6 January 2015 with a "Buy" recommendation on CCRE with a target price of HKD2.51. The report titled "King of a rising region: Central China" highlighted that the Group's strategic focus on Henan should enable it to capitalize on the rising opportunities from robust economic growth prospects in the region. The report said that as a leading developer in Henan, the growth of CCRE will be driven by its competitive edge in the Henan region, robust transportation network in the province, inward migration by the industrial sector, narrowing disposable income gap between Henan and other provinces, urbanisation growth, as well as healthy affordability levels at Henan. According to the report, together with the removal of home purchase restrictions (HPR) in Zhengzhou from June 2014, the sales for the Group will be boosted.
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About CCRE
Central China Real Estate Limited is one of the leading Henan-based property developers that focus on developing of high-quality residential properties. Known for its outstanding product quality, strong brand awareness and its experienced management team, the company was ranked 26th among the "Top 500 Chinese Property Developers in 2014", according to "2014 Research Report on Top 500
Chinese Property Developers" co-published by China Real Estate Research Association, China Real Estate Association and China Real Estate Appraisal, and topped the list of "Top 10 Chinese Property Developers in Regional Operations" for the sixth year in a row and repeatedly ranked in top 5 operations performance among the listing property companies in China, being the only central China based property developer among the top 30 and the top real estate developer in Henan.
Mr. Vinh Mai
Head of Investor Relations and Chief Investment Officer Central China Real Estate Limited Email:vmai@centralchina.com
Tina Law / Molisa Lau / Venus Wong/ Rhonda Leung
Tel: (852) 2136 6181 / 2136 6953 / 3920 7649 / 3920 7625
Fax: (852) 31706606
Email: ccre@iprogilvy.com
Disclaimer
In view of the presence of various uncertainties during the property sales process, the property sales data disclosed above a re based on preliminary internal management records of the Group and are unaudited. The above data may differ from the data to be disclos ed in the regular reports of the Company. Such data are provided for investors' reference only, and do not constitute, nor should they be construed as, an offer or solicitation to sell or buy any securities or financial products of the Company. They should not be used as a basis for research reports, and are not intended to, nor should they constitute any investment advice. Shareholders of the Company and potential investors are advised to exercise caution, and should not place undue reliance on the data disclosed herein.
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