HONG KONG, Aug. 7, 2019 /PRNewswire/ -- Zhongliang Holdings Group Company Limited ("Zhongliang", together with its subsidiaries, the ''Group''; Stock Code: 2772) announces, for the six months ended 30 June 2019 (the Period), the Group is expected to record a significant increase of not less than 80% in the core net profit* attributable to shareholders. The increase was primarily attributable to the increase in the total gross floor area delivered to buyers in respect of the Group's property development business during the period.
The Group has diversified and defensive quality land bank. By the end of March 2019, the Group has a product portfolio of 353 projects across five core economic zones in China, namely, Yangtze River Delta, the Midwest China, the Pan-Bohai, the Western Taiwan Straits and the Pearl River Delta, covering 124 cities in 23 provinces and municipalities. Our total attributable land bank reached about 38.9 million sq.m as at 30 April 2019.
Mr. Yang, the Chairman of Zhongliang Holdings Group Company Limited comments, Zhongliang is a fast-growing Top 20 real estate developer in China, achieved contracted sales which grew at a CAGR of 131% over the past three years. With the rigorous land acquisition decisions and distinctive amoeba ecosystem, the business of the Group recorded a stable increase year by year. In the future, the Group will continue to follow the rhythm, capture the opportunity of the land market, actively seek structural opportunities, and explore the multiple ways of land acquisition such as cooperative development, mergers and acquisitions, and substantially deepen the cultivation in key second- and third-tier cities.
*Core net profit represents the net profit excluding changes of fair value of investment properties and financial assets at fair value through profits and losses and listing expenses.
About Zhongliang Holdings Group Company Limited
Headquartered in Shanghai, based in the Yangtze River Delta Economic Region with a national footprint, Zhongliang is a fast-growing comprehensive nationwide real estate developer with 100 billion contracted sales. In 2019, we are recognized as TOP 20 real estate developer in China and ranked TOP 1 in terms of development potential by China Real Estate Association and E-house China R&D Institute China Real Estate Appraisal Center. We focus on the development of residential properties and have recently started to develop, operate and manage commercial properties.
We offer three standardized product series, namely, the Shanti, the Glory and the Royal series, targeting first-time purchasers, first-time upgraders and second-time upgraders. By virtue of approximately 19 years of experience in China's real estate industry and regional expansion strategy, we own total attributable land bank of about 38.9 million sq.m as at 30 April 2019. By the end of March 2019, we have a product portfolio of 353 projects across five core economic zones in China, namely, Yangtze River Delta, the Midwest China, the Pan-Bohai, the Western Taiwan Straits and the Pearl River Delta, covering 124 cities in 23 provinces and municipalities.
This press release is issued by Wonderful Sky Financial Group Ltd. on behalf of Zhongliang Holdings Group Company Limited.
