Mainland property developer Kaisa Group Holdings Ltd. (01638.HK) said on Thursday that its net profit rose 65 percent last year to 2.78 billion yuan (US$456.96 million), Securities Times reported Friday. Revenue was up 63 percent from a year earlier at 19.52 billion yuan. Contracted property sales were up 38 percent at 23.9 billion yuan, surpassing the company’s target of 22 billion yuan. Chairman Guo Yingcheng said the sales target for this year is 30 billion yuan, and that the group will aim for 20 percent annual growth in the future. Kaisa will seek more land acquisitions in China’s first- and second-tier cities.
– Contact HKEJ [email protected]