Citigroup upgrades to “Buy”

Citigroup said that Yuexiu Real Estate (123) completed the introduction of Guangzhou Metro as the second largest shareholder last week and acquired the first “railway + development” project.

The bank said that by injecting high-quality assets, the company is expected to increase the value of its products by RMB 350 billion (the current resources are RMB 450 billion). It is expected that the company’s sales in 2019 will exceed the previous target (it is expected to be annual) It rose 25% to 72 billion yuan, and sales exceeded 100 billion yuan in three years (expected compound annual growth rate of 22%), of which 50 to 60 billion yuan contributed from Dawan District.