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Chiwayland International Reports Net Loss Of Rmb21.2 Million For 1H15
Daily Bulletin | 17 August 2015

Chiwayland International reported a net loss of Rmb21.2 million for 1H15 as revenue fell 16.8 percent due to the decrease in the number of property units handed over as well as a lower aggregate gross floor area (GFA) sold.

Higher total expenses due to increased sales and marketing charges for its projects, increased business activities for its new development projects and higher finance costs recorded also weighed on the bottom line.

Despite the lower revenue, the group’s pre-sales activities in China achieved pre-sales GFA of 185,878 square metres with an aggregate consideration of Rmb1,972 million.

Pre-sales activities has also been launched for two development projects in Australia, and 182 units from these property development projects have been pre-sold with an aggregate consideration of AUD122.6 million.

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