China Resources Land H1 Profit Falls 17.16% to RMB9.842 Billion
China Resources Land reported a 17.16% year-on-year decline in interim net profit attributable to shareholders, reaching RMB9.842 billion. Revenue dropped 28.5% to RMB67.869 billion, while recurring income rose 9.9% to RMB22.61 billion, accounting for 33.3% of total revenue. The company maintained its interim dividend at RMB0.20 per share.
China Resources Land (01109) announced its interim results for the six months ended June 30. Profit attributable to shareholders stood at RMB9.842 billion, down 17.16% year-on-year. Earnings per share were RMB1.38, and the interim dividend was maintained at RMB0.20 per share, unchanged from the previous year.
During the first half, the group's revenue totaled RMB67.869 billion, a decrease of 28.5% year-on-year. Of this, development and sales business revenue amounted to RMB45.26 billion; investment property rental business revenue reached RMB14.16 billion; and light-asset management fee business revenue was RMB8.45 billion. Recurring business income totaled RMB22.61 billion, up 9.9% year-on-year, representing 33.3% of total revenue. As of June 30, the group's total land reserves stood at approximately 47.12 million square meters.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is negative for Residential Development, with intensity 60/100 and 80% confidence over a short term horizon.
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.