YING LI: 2014 net profit up 23.6% to RMB254 million

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Here are some highlights from the Q&A session at the recent results briefing:

Q: Only about 47% of Tower 1 of the Ying Li International Plaza (which comprises office units) has been sold since its launch in May 2013. What is the reason for this?

Cai Mingyi, financial controller: The market has been a bit slow. We expect the remaining units to be sold over the next two years -- ie, 2015 and 2016.

Q: How has the entry of China Everbright changed things at Ying Li?

FangMing_JamesPan7.14 Last year at event to mark Everbright's investment in Ying Li: Ying Li chairman & CEO Fang Ming (left) exchanges gifts with James Pan, head of real estate investment, China Everbright.
File photo. Fang Ming, Chairman & CEO: Firstly, in terms of cashflow, we are more secure as we have gained the support of major banks and China Everbright has the resources in the capital markets and the network. Our funding is secured for our projects. Many real estate developers are facing a cash shortfall but this is not the case for Ying Li.

Secondly, operationally, our status has been elevated and we have engaged an external consultant to enable us to undergo an organisation restructuring, which is now in the implementation stage.

Everbright and Ying Li can complement each other. Everbright has strengths in management and operations and in the financial markets while Ying Li has vast experience in the real estate sector. Therefore, together we can improve our business competitiveness.

Q: For the San Ya Wan Phase 2 project, you have launched sales in Oct 2014. How is the sales progress?

Cai Mingyi: We have sold about 20% of those units that were launched. The remaining units are expected to be sold this year.

Sales value is about RMB100 million. Total is about 800 units, with completion in 2016.

Q: What is going to be the capex for this year for the existing two projects? How about 2016?

Cai Mingyi: This year, about RMB500 million and next year, about RMB300 million.

The Powerpoint materials for the results briefing can be viewed here.

Counter Name	Last	Change
AEM Holdings	1.840	-0.020
Best World	2.480	-
Boustead Singapore	0.950	-0.005
Broadway Ind	0.145	0.005
China Aviation Oil (S)	0.865	-0.005
China Sunsine	0.390	-0.005
ComfortDelGro	1.390	-0.010
Delfi Limited	0.875	-
Food Empire	1.120	-0.010
Fortress Minerals	0.310	-
Geo Energy Res	0.300	0.005
Hong Leong Finance	2.420	-0.010
Hongkong Land (USD)	3.420	0.010
InnoTek	0.505	-
ISDN Holdings	0.300	-0.005
ISOTeam	0.047	-
IX Biopharma	0.039	-0.004
KSH Holdings	0.245	-
Leader Env	0.049	-
Ley Choon	0.055	-0.001
Marco Polo Marine	0.068	-0.003
Mermaid Maritime	0.135	0.002
Nordic Group	0.305	-
Oxley Holdings	0.090	0.001
REX International	0.124	-
Riverstone	0.930	0.005
Southern Alliance Mining	0.480	-
Straco Corp.	0.490	-
Sunpower Group	0.230	-
The Trendlines	0.063	-
Totm Technologies	0.019	-0.002
Uni-Asia Group	0.810	-0.035
Wilmar Intl	3.160	-
Yangzijiang Shipbldg	1.750	-0.020

Counter Name

Last

Change

AEM Holdings

1.840

-0.020

Best World

2.480

Boustead Singapore

0.950

-0.005

Broadway Ind