SINGAPORE (Jul 17): Chinese real estate developer Yanlord Land Group Limited is “red hot”, and if its pre-sale figures are anything to go by, the company is on its way to exceeding a RMB 70 billion ($13.92 billion) sales target, says KGI Securities analyst Kenny Tan in a report today.

The company released pre-sale figures for June, with a jump of 59.5% y-o-y and 49% m-o-m. With strong summer sales expected, KGI Securities is maintaining its outperform call on the company with a 12-month target price of $1.45.

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