R&F Properties' Sales Up 30% in First Half, Annual Sales Expected to Hit USD12 Billion
Dou Shicong
DATE:  Aug 22 2017
/ SOURCE:  Yicai
R&F Properties' Sales Up 30% in First Half, Annual Sales Expected to Hit USD12 Billion R&F Properties' Sales Up 30% in First Half, Annual Sales Expected to Hit USD12 Billion

(Yicai Global) Aug. 22 -- Sales at Guangzhou R&F Properties Co., a real estate group headquartered in China's southeastern industrial powerhouse of Guangdong province, reached USD5.833 million (CNY38.81 billion) in the first half, up 30 percent per year, its latest financial data shows.

Its annual sales volume is projected at CNY80 billion.

R&F Properties' total business turnover in the first half was CNY20.41 billion and its net profit rose 2% to CNY2.480 billion.

Though the Chinese government has released a raft of policies to curb climbing real estate prices since last year, China's real estate market still retains its growth momentum, R&F Properties said. Real estate sales in third- and fourth-tier cities are growing rapidly, while growth in first- and second-tier cities is slower. Because its agreed sales volume in the first half exceeded expectations, R&F Properties increased its annual sales target to CNY80 billion.

R&F Properties' investment in the first half was CNY31.6 billion, and it acquired 11.4 million square meters of land for construction.

The company's board passed a resolution declaring a mid-term dividend of CNY0.33 per share. The firm's shares peaked up 6% today. As of press time, that increase had slipped to 4.85 percent, with the price reported at USD2 (HKD15.56) per share.

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Keywords:   R&F Properties,Sales