China Resources Land ( (HK:1109) ) has provided an update.
China Resources Land reported a consolidated revenue increase of 11.0% year-on-year for 2024, reaching RMB278.80 billion. The company’s property development and investment properties contributed significantly to this growth. The company achieved a core net profit of RMB25.42 billion, with a notable increase in recurring income. The group maintained a strong industry position with property contracted sales of RMB261.10 billion, ranking third in the industry, and expanded its land bank to 51.94 million square meters. The company’s financial stability is reflected in a net gearing ratio of 31.9% and a reduced weighted average cost of debt.
More about China Resources Land
China Resources Land is a prominent player in the real estate industry, primarily engaged in property development, investment properties, asset-light management, and eco-system elementary businesses. The company focuses on expanding its market presence through property sales and maintaining a substantial land bank.
YTD Price Performance: 16.96%
Average Trading Volume: 1,980
Technical Sentiment Signal: Hold
Current Market Cap: $23.99B
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