First half core profit at China Resources Land (1109), excluding revaluation gain from investment properties grew by 3.2 percent on-year to 8.37 billion yuan. Net profit, including the revaluation gain from investment properties, fell by 9.3 percent on-year to 11.54 billion yuan. Earnings per share were 1.62 yuan, down by 12 percent compared with 1.84 yuan in the first half of 2019. Development property revenue dropped by 1.7 percent on-year to 35.97 billion yuan, the group said. Rental income of investment properties (including hotel operations) dropped by 12.5 perent on-year to 4.99 billion yuan.

Source: The Standard August 26, 2020 06:00 UTC