HONG KONG, Aug. 9, 2016 /PRNewswire/ -- Jiayuan International Group Limited ("Jiayuan International" or the "Group"; SEHK stock code: 2768.HK), one of the established property developers of large-scale residential and integrated commercial complex projects in China, issued that based on the currently available preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2016, the Group expects to record a significant increase in revenue and net profit by more than 100% and 90%, respectively, for the six months ended 30 June 2016 as compared to the six months ended 30 June 2015.
Such increase in revenue and net profit was primarily attributed to the delivery of properties pre-sold under the Zijin Mansion project upon its first stage of completion, whereby the revenue and the profit therefrom was recognised during the six months ended 30 June 2016.
Zijin Mansion is a Chinese themed residential complex, located in Xuanwu District of Nanjing. The project has an aggregate site area of 339,007.6 sq.m. and is estimated to be completed in the second quarter of 2017. Upon completion, this project will comprise low-rise apartments, mid-rise apartments, townhouses, high-rise apartments, commercial properties and car parks.
About Jiayuan International
Jiayuan International is an established property developer of large-scale residential complex projects and integrated commercial complex projects in Jiangsu Province, the PRC. Its main business operations include the development and sale of residential and commercial properties; and the leasing of commercial properties owned or developed by the Group. Adhering to Jiayuan International's core development strategy of "major cities and selected key towns", as at 31 December 2015, the Group has a portfolio of 19 property development projects in Jiangsu Province. To maximise return under the projected property demand in the PRC, the Group has been establishing the "Jiayuan" brand since its inception in 2003, with strengths of a stable and experienced management team, sufficient land reserves and quality of products.
