[photopress:real_estate_China_Resources.jpg,full,alignright]HK-listed China Resources Land saw its total revenue rise 44.3% to $720 million as turnover from residential property development business grew 38.9% to $556 million. The illustration comes from its corporate site.
The company, a mainland property firm, said earnings contribution from property sales surged 87% to $154 million, with gross profit margin rising to 32.5% from 23.8%,
Contracted property sales in 2007 rose 42% to RMB5.62 billion, while area sold was up 32% at 580,778 square metres.
Turnover from property leasing and management amounted to $127 million, up 20.9% from 2006.
This should be contrasted with the fact that Evergrande Real Estate Group is apparently seeking to raise around $400 million from a private share placement after its original plan for a much larger share offer in Hong Kong was unsuccessful.
Sources: Trading Markets and Forbes.