Yangtze River Development Limited, (NASDAQ GLOBAL SELECT MARKET: YERR), an international infrastructure company that engages in the business of real estate development via a port logistic project located in the middle reaches of China’s Yangtze River in Wuhan City, announced today the Year End Shareholder Meeting Update.
The Company believes it will benefit from new government initiatives within the People’s Republic of China (the “PRC”), including the recent designation of the Yangtze River New District as a tax free / free trade zone. In addition to its prime location and status as a major infrastructure player in the (OBOR) One Belt One Road initiative, the company is also well positioned to benefit from recent thawed relations between the PRC and the United States and the economic opportunities that it represents.
In May of this year the Company announced that it had hired a new CFO, Mr. Tze-Kit “Jerry” Chan. Mr. Chan has an MBA from The Chinese University of Hong Kong and is a CPA and member of the American Institute of CPA’s
In April of this year, YERR was up-listed from the OTCQX to the NASDAQ Capital Markets and, subsequently, was up-listed in August to The NASDAQ Global Select Market, which has the highest initial listing standards of any of the world’s stock markets. When the company completed its reverse merger in 2015 the valuation at that time was $10.00 per share and the company reached a milestone this year by surpassing that initial valuation and currently has a $2.6 Billion dollar market cap, adding over one billion dollars in market valuation this year.
See Thru Equity upgraded their Buy recommendation in May to $13.25 and subsequently increased its price target to $23 in September; copies of these research reports are available upon request.
The company believes that it has laid the foundation this year for successful access to the highest level of the US capital markets in 2018 and is currently exploring multiple funding partners.
About Yangtze River Development Ltd.:
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 believed to be strategically positioned in the anticipated “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.
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