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    Ying Li International Real Estate Limited (SGX:5DM) has seen a 36% increase in share price over the last quarter. However, this short-term gain doesn't change the fact that the company's long-term performance has been dismal. Over five years, shareholders have lost 66%, making us cautious about putting too much weight on the recent surge.

    We've analyzed the underlying fundamentals and found that Ying Li International Real Estate made a loss in the last twelve months, focusing investor attention on revenue growth. However, the company's revenue has shrunk by 9.2% per year over the past five years, which is weaker than most pre-profit companies report. This performance has led to an 11% annualized decline in share price.

    Investors typically avoid loss-making companies with falling revenue, making this a high-risk investment. We recommend thorough research before considering a purchase. The company's financials and balance sheet can be viewed in the image below (click for exact numbers).

    Shareholders have received returns of 36% over twelve months, which is close to the general market return. While this gain is pleasing, we're skeptical about turnaround stories. To truly understand business performance, consider risks, such as the two warning signs we've identified for Ying Li International Real Estate.