Latest News:  


More property developers predict rising profits in H1


20:01, July 12, 2013

BEIJING, July 12 (Xinhua) -- More property developers have forecast profit hikes for the first half of the year, despite a cash crunch that sent interbank borrowing costs to a record high in June.

As of Friday, 35 property developers had issued performance reports for the first half, with 21 companies showing climbing year-on-year profits, according to data from the Shanghai and Shenzhen stock exchanges.

China Vanke, the country's largest developer by market value, on Thursday announced that it realized 83.67 billion yuan (13.58 billion U.S. dollars) in sales in the first half, up 33.79 percent year on year.

Poly Real Estate Group Co., Ltd., the country's second-largest property developer by market value, said Thursday that its net profits rose 35.37 percent in the first half, thanks to the substantial completion of real estate projects.

China Merchants Property Development Co., Ltd., another property heavyweight, on Wednesday predicted 2.5 to 2.6 billion yuan in net profits for the first half, up 105 to 113 percent year on year, thanks to closures of more projects.

Many small and medium-sized property developers, however, suffered shrinking profits or even losses due to limited settlements.

Although less than 30 percent of all of China's listed property developers have disclosed their performances thus far, it is expected that the property sector will generally see rising profits for the first half.

Domestic investment bank China International Capital Corporation Limited predicted a 21-percent average rise in profits for key property developers.

Shares of China Vanke tumbled 3.53 percent to 10.40 yuan per share on Friday, while Poly Real Estate shrank 3.62 percent to 10.91 yuan per share.

We Recommend:

Chinese investors' happiness and sadness

Top 10 luxury villas of China in 2013

Soft gold -- gambiered Guangdong silk

China's 1st intelligent
high-speed train tested

Glamorous models pose at Shenyang auto show

Top 10 cities where home prices are set to soar

High-end singles party attracts swarm of girls

Beijing's taxicabs in 30 years

12th Int'l Automobile Industry Expo kicks off


Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese, Russian naval forces in drill

  2. Naval joint exercise to be normalized

  3. Muslims buy food to break daytime fast

  4. Taiwan braces itself for arrival of Soulik

  5. Cute twin sisters popular on the Internet

  6. Death toll rises to 18 in SW China landslide

  7. Weekly sports photos: Bikini enchantment

  8. Ilhabela Sailing Week 2013 kicks off

  9. 2013 China Int'l Boat Show kicks off

  10. A decade for home mortgage slaves

Most Popular


  1. Chinese economy not to take hard landing
  2. RMB becomes more market-oriented: official
  3. High hopes for high-tech export reform
  4. China's automobile organization slams car limits
  5. Shortage of teachers hurts kindergartens
  6. Building on past successes
  7. Inflow of 'hot money' tackled, expert says
  8. Caution urged in seeking experts from abroad
  9. China didn't cause German solar firms' bankruptcy
  10. China, U.S. discuss cyber security

What’s happening in China

China's Chongqing issues orange-coded alert of heat

  1. China counts on multicultural talents
  2. Zoo crocodiles killed by visitors
  3. Books on dating become a hit 24 years later
  4. Counting the cost of living in Beijing
  5. Three Heilongjiang students drown in pool