Caixin
Sep 23, 2011 10:58 AM

Policy Shift Squeezes Developer in Kunming

Two years ago, stock watchers predicted profits would skyrocket past 10 billion yuan for Yunnan Urban Investment Real Estate Co. The predictions pushed the government-backed developer's stock price to a high of 34.20 yuan at the end of 2009.

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But on September 6, the company's shares hit a 52-week low, closing the day at 8.57 yuan on the Shanghai Stock Exchange. Yunnan Urban's stock value has declined 35 percent so far this year.

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