(Sept. 21, 2009 - Zou Soueidan) On September 18, 2009 ($0.38) we coded China Growth Development (OTC:CGDI) as a GeoSpecial due to the stock selling below its book value per share. It's price ended Sept. 18, 2009 was $0.40.
As of its the 2009 second quarter China Growth's book value per share is $1.28. The Company develops real estate that generates revenues from rental income. Recall that China Housing & Land Development (NASDAQ:CHLN) is another Chinese real estate development company. Unlike China Growth, China Housing develops and sells its real estate holdings and is trading above its book value per share of $3.43.