China Resources Land (HK:1109) has released an update.
China Resources Land Limited reported a decline in gross contracted sales and contracted GFA for May 2024, with figures down 33.9% and 15.0% year-over-year, respectively. Despite the downturn in sales, the company has experienced a 13.1% year-over-year increase in recurring business revenue for the same month, and a notable 16.5% increase in rental income from its investment property business for the first five months of the year. These unaudited figures, presented for informational purposes, are subject to change upon future financial reporting.
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