NEW YORK, NY / ACCESSWIRE / May 3, 2017 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Yangtze River Development Ltd. (Nasdaq: YERR) and raised the 12-month price target to $13.25 per share.
The report is available here: YERR May 2017 Update.
Highlights from the update are as follows:
YERR completes uplisting to Nasdaq Capital Markets
On April 17, 2017, YERR announced that its shares had been approved to be listed on the Nasdaq Capital Markets ("Nasdaq CM"). Shares officially began trading on the Nasdaq CM on April 19, 2017. In our view, the uplisting to the Nasdaq CM announcement marks the successful execution of a significant corporate milestone, and follow-through on management's goals as articulated when we initiated coverage in 2016. YERR management believes that a Nasdaq CM listing will improve the profile of the company, increasing its visibility and potentially allowing broader access to an institutional investor base than what was available to the company when shares were quoted over the counter.
YERR filed 10-K, update on project financing
YERR filed its annual Form-10K with the SEC on March 10, 2017. The company did not report revenues for the period, as expected, and reported a loss of ($0.07) per share for the year. YERR ended the year with assets of $379.7mn and liabilities on $187.5mn. The most significant assets at the company are real estate, land and properties under development for the construction of commercial real estate and large scale port logistics facilities outside Wuhan city. YERR management has articulated a plan to develop its properties over the next three to five years, and is seeking up to $1 billion in financing to complete the project.
Of note, the company indicated that it had dissolved its previously announced agreement with Wight International Construction in February. Management has stated that it is in discussions with new partners. We have seen capital raising as a key need for the company to advance development of the projects and put YERR in a position to realize / demonstrate value from its significant real estate assets located in a strategic industrial area of China.
Price target moves to $13.25
We see the Nasdaq CM and progression of the Hubei free trade zones as key milestones for YERR. We are increasing the price target to $13.25 at this time and will review following the completion of new project financing.
Please review important disclosures at www.seethruequity.com.
About Yangtze River Development Limited
Yangtze River Development Limited primarily engages in the business of real estate development with a port logistic project located in the middle reaches of the Yangtze River. Wuhan Newport is a large infrastructure development project implemented under China's latest "One Belt One Road" initiative and is strategically positioned in the "Free Trade Zone" of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. To be fully developed upon completion of three phases, within the logistics center, there will be six operating zones, including port operation area, warehouse and distribution area, cold chain logistics area, rail cargo loading area, exhibition area and residential community. The logistics center is also expected to provide a number of shipping berths for cargo ships of various sizes. Wuhan Newport is expected to provide domestic and foreign businesses a direct access to the anticipated Free Trade Zone in Wuhan. The project will include commercial buildings, professional logistic supply chain centers, direct access to the Yangtze River, Wuhan-Xinjiang-Europe Railway and ground transportation, storage and processing centers, IT supporting services, among others.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
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Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity
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