Landsea Green Group Announces Its 150% Year-on-year Increase of Net Profit in the First Half of the Year
As a leading green development operator and life service provider in China, Landsea Green Group (listed on Stock Exchange of Hong Kong with stock code of 00106) announced a positive profit forecast on July 24, 2018. Over the six months ending by June 30, 2018, the Groups net profit, as recorded, is estimated to have significantly increased over 150% year-on-year. The increase of net profit is resulted from the increase of property sales, the development management services income and the unrecognized exchange gains.
Landsea Green Group is pushing forward its healthy, stable and sustainable development in accordance with its industrial transformation and upgrading strategy for product differentiation, asset lightening and market globalization. In the first half of 2018, Landsea Green Group achieved a sales contract value of RMB 15.979 billion, a year-on-year increase of 65%. The increasing number of concluded sales contracts will also provide the basis for the Groups sustainable growth. Additionally, in the context of increasing industry concentration and diversified competition in the market, Landsea Green Group maintained a secured and stable financial structure by controlling the cost of land acquisition and increasing capital sources through a development model based on small-scale trading.
In the future, Landsea Green Group will build a green business ecosystem like a banyan forest by the business model of Green Property Development, Development Management Services, Long-term Leasing Apartment, Elderly Care Services and Green Finance based on the core business and expansion of green industry value chain in accordance with its strategy of balanced and sustainable development under the current situation. The diversified development model has allowed Landsea Green Group to hold on in the industry fluctuations and become a unique green life leader in the industry.