Huayuan Property said Wednesday evening that its net income in the first half of this year jumped 10.28 percent year-on-year to 171 million yuan.

Total revenue of the Beijing-based property for the period was 683 million yuan, a 41 percent increase from a year earlier. Earnings per share was 0.18 yuan, down 10 percent year-on-year, according to the interim report.

The company predicted that the investment and speculation needs in the real estate market would keep sliding in the future as the government's measures to curb housing prices continue. The company shifted toward the second- and third-tier cities for new projects development, for the purpose of avoiding risks, it said.