SHANGHAI Aug 25 China State Construction
Engineering Corp Ltd (CSCEC), the country's largest
real estate conglomerate, posted first-half net profit of 11.8
billion yuan ($1.92 billion), up 34.4 percent from a year
Operating income hit 374.9 billion yuan, an on-year increase
of 24.2 percent, according to a filing posted on the Shanghai
Stock Exchange on Sunday.
New construction projects rose 9.8 percent to 720 billion
yuan, with real estate deals jumping 15.6 percent to 632.3
billion yuan. Infrastructure business fell by 20.8 percent to
82.8 billion yuan.
Real estate sales fell 13.5 percent to 68.2 billion yuan,
with the total sales area sold down 21 percent to 5.27 million
CSCEC added about 7.6 million square metres (82 million
square feet) of land reserves for a total of about 66.6 million
square metres in the land bank.
CSCEC said it aims to achieve a new annual contract total of
1.2 trillion yuan by year end, with a sales income of 750
The company's shares closed at 3.19 yuan on Friday, and have
risen by 6.7 percent over the past month.
(1 US dollar = 6.1510 Chinese yuan)
(Reporting by Engen Tham; Editing by Stephen Coates)