China Fortune Land Development Co. Ltd. reported net profit of 8.48 billion yuan for the first half of 2019, a 22.4% increase from the same period last year.

The company's gross profit margin was 48.7%, up 2.9% from a year ago. Its net profit margin came in at 21.1%, higher year over year by 2.1%.

Operating revenue went up 10.7% year over year to 38.73 billion yuan.

As of Aug. 16, US$1 was equivalent to 7.04 yuan.