CHINA OVERSEAS 1Q Operating Profit RMB4.11 Billion, Down 27.5% YoY
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CHINA OVERSEASreported a 27.5% YoY decline in operating profit to RMB4.11 billion for Q1, despite a 0.8% increase in revenue to RMB37.04 billion. Contracted property sales rose 11% YoY to RMB51.52 billion, with a sales area of 1.82 million square meters. The company acquired three land parcels in two mainland cities and Hong Kong, adding 130,000 square meters of gross floor area at a land premium of RMB2.13 billion.
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