Property developer Greenland posts 30 pct net profit growth in 2019

Source: Xinhua | 2020-05-01

Greenland Holdings Co., Ltd., a major property developer in China, posted a year-on-year growth of 30 percent in net profits in 2019.

According to its annual report disclosed to the public, the major real estate developer reported 14.7 billion yuan (about 2.1 billion U.S. dollars) of net profits attributed to its shareholders last year.

Total business revenue of the company stood at 427.8 billion yuan last year, up 23 percent year on year, the report said.

The developer said its total assets rose 11 percent year on year to reach 1.1 trillion yuan at the end of 2019.