Greenland, the leading real estate company in China, brought its profit to 9 billion yuan in a year
A 2017 to remember for Greenland Holdings Corp. Ltd. One of the largest real estate developers in China has in fact declared that net profit for the last year rose 25.4% year-on-year to 9 billion yuan. In his annual financial report, filed on the Shanghai Stock Exchange, it also said that his revenue grew 17.4% year-over-year to 290.2 billion yuan last year.
Infrastructure construction is an important growth driver
The gross profit margin of its main real estate development business grew by almost 3 percentage points, settling at 23.4%. Its infrastructure construction business has become an important growth driver, generating revenues of 104.8 billion yuan, up 37% year-on-year.
Zhang Yuliang, President of Greenland Holdings, said the overall growth in the recovery and the fierce competition from the industry laid the foundation for future growth.
The first data of 2018 was also published
Net of all data for 2017, Greenland Holdings also published the first quarter results of 2018. The new year saw revenues increase 27.2% year-on-year to 74.8 billion yuan. Driven by robust earnings growth, its shares rose 2.55% to 7.24 yuan on the Shanghai stock exchange.