Soho China posts solid growth

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Pan Shiyi, chairman of Hong Kong-listed Soho China Ltd, said that the company's business mode has successfully transformed from selling properties to operating self-owned projects.

In the first half of this year, Soho China posted profits of 2.09 billion yuan ($341 million), up 242 percent year-on-year, and revenue reached 2.48 billion yuan, growing 103 percent from a year ago, the property developer said in its interim report on Tuesday.

Robust demand for high-quality office space in Beijing and Shanghai versus insufficient supply has catapulted vacancy rates to historic lows, the report said.

At the end of June, Soho China held 15.2 billion yuan in cash, and its net debt ratio was 14.3 percent.

"Soho China's financial condition is capable of weathering any market turbulence," Pan said.

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