Poly Real Estate Group Co., Ltd., China's second largest
property firm by market value, made 1.489 billion yuan in net
profit in 2007, up 121.8 percent year on year.
Property sales surged 104 percent to 17.04 billion yuan in 2007
after the company sold 1.996 million square meters of property, an
increase of 62 percent compared with 2006, according to the
company's annual report.
Its earnings per share rose by 96.97 percent to 1.30 yuan.
The Guangzhou-based company also said it will continue to focus
on developing homes in major Chinese cities such as Shanghai,
Beijing, Guangzhou, Wuhan and Shenyang.
It plans to start construction on about 6.3 million square
meters of property and complete some 3.5 million square meters this
year.
(Xinhua News Agency February 11, 2008)
