(Yicai Global) July 12 -- Thanks to good sales performance, Greenland Holdings estimates that its net profit attributable to shareholders increased 45.7 percent to CNY8.8 billion (USD1.3 billion) in the first half, the Shanghai-based property developer said in a statement today.

Its stock [SHA:600606] rose 2.91 percent to CNY6.73 at 10.25 a.m. on the news, while its Hong Kong branch [HK:0337] also gained 2.02 percent to HKD3.02 at around the same time.

Editor: Ben Armour