News Column

Sunac China H1 Gross Margin Fell to 22.43%

August 26, 2014

HONG KONG, August 26, SinoCast -- Sunac China Holdings Ltd. (SEHK: 1918) had sales of about CNY 29.8 billion in the first half of 2014, up 26.2% year on year. Operating revenue and net profit attributable to shareholders each rose 5.9% and 8% to about CNY 9.07 billion and CNY 813 million. Net liability ratio dropped to 66.7%. Cash on hand was about CNY 22.99 billion. Gross margin fell to 22.43% from 23.27%.

It signed an agreement to acquire 24.313% of Greentown China for about HKD 6.3 billion this May. The deal caused its loans to rise, with finance cost for January to June rising about 77% to around CNY 5.1 billion. Total interest cost increased 13.8% to about CNY 15.23 billion and capitalized interest was around CNY 10.74 billion.

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Source: Sinocast Construction & Real Estate Beat (China)

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