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More Listed Developers Net Liability Ratio Exceed 100%

September 2, 2014

SHANGHAI, September 2, SinoCast -- 42 of 115 listed land developers that had released financial results for the first half of 2014 by August 28 saw net liability ratio exceed a 100% warning line, compared to 27 ones a year ago.

Aggregate net profit of the 115 firms hit CNY 28.1 billion in the six months, down 3.5%, or CNY 1 billion, from CNY 29.1 billion a year earlier. Net cash flow from operations dropped 89% from negative CNY 54 billion to negative CNY 102 billion. Debt asset ratio rose 63.9% from 63% in 2013. Not considering accounts received in advance, the ratio increased to 58.3% from 56.8%. Inventory jumped 25% to CNY 1.97 trillion from CNY 1.58 trillion a year ago.

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Source: Sinocast Construction & Real Estate Beat (China)

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