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China Resources Land posts 24.7% YOY decline in December 2019 contracted sales

China Resources Land Ltd. posted gross contracted sales of about 15.83 billion Chinese yuan for December 2019, down 24.7% from 21.02 billion yuan in the prior-year period.

The developer recorded a contracted gross floor area of approximately 896,997 square meters for the period, reflecting a year-over-year decline of 20.6%, according to Jan. 14 stock exchange filing.

Attributable contracted sales for December 2019 came to approximately 8.68 billion yuan, with contracted gross floor area of roughly 624,842 square meters.

Rental income from investment properties rose 27.5% year over year to about 1.30 billion yuan.

For the 2019 full year, the developer recorded gross contracted sales of about 242.50 billion yuan, with contracted gross floor area of 13,248,349 square meters, representing year-over-year increases of 15.1% and 10.5%, respectively.

Rental income from investment properties for the full year increased 29.7% year over year to 12.42 billion yuan.

The group's attributable land premium payable for December 2019 was approximately 9.81 billion yuan, according to a separate same-day filing.

China Resources acquired various levels of interest in 10 land parcels in Shenyang, Beijing, Baoding, Ji'ning, Taiyuan, Langfang, Shanghai, Wuhan, Liuzhou and Changchun with a total gross floor area of 3,274,729 square meters.

As of Jan. 14, US$1 was equivalent to 6.89 Chinese yuan.