China property bears have been beaten back as shares of top developers climb to record levels amid soaring profit, according to Bloomberg. Bearish wagers on China Evergrande Group and Sunac China Holdings, the nation’s two most-shorted developers, have ebbed from highs earlier this year in an upbeat earnings season. A 250% jump in Evergrande’s core profit and lower debt levels helped extend its share rally this year to more than 400%, making the stock the best performer in the MSCI China Index. Short sellers have also cut bets on Sunac, the second-best performer, as the company’s shares rose to a record after the developer forecast a fifteen-fold increase in profit. Sunac is due to report earnings before the market opens on Friday. Short interest in Sunac peaked on July 31 after a $6.6 billion purchase of Dalian Wanda assets stoked concerns about a debt-fueled expansion. Yet, after a bond sale appeared to alleviate funding concerns, such bets have slumped.