Shimao Property reports earnings jump in H1
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Hong Kong-listed Shimao Property Holdings Ltd reported Tuesday profit attributable to shareholders jumped 76 percent to 2.11 billion yuan (US$311 million) in the first half of this year mainly due to increased property sales.
Revenue during the six-month period more than doubled to 10.02 billion yuan, of which 94 percent was gained through property sales, the company, owned by billionaire Hui Wing Mau, one of the richest people on the Chinese mainland, said in a statement on its website.
Property sales between January and June were 9.42 billion yuan, an annual rise of 106 percent. Average selling price rose 39 percent to 9,344 yuan per square meter, the company said.
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