The board of directors of Zhong An Real Estate Limited announced that based on the preliminary review of the draft unaudited consolidated management accounts of the Group for the six months ended 30 June 2017 (period), the Group is expected to record a substantial increase of over 16 times in its profit attributable to equity holders of the company for the period as compared with that of approximately RMB 24,124,000 for the corresponding period in 2016. The Board considers that the expected improvement in results performance in the period is mainly attributable to, among other things: (i) the substantial increase in the property sales recognized; (ii) the improved gross profit margin from the recognized property sales and (iii) the significant increase in the changes in fair value of investment properties.

For the six months period, the company reported revenue of RMB 3,171,518,000 against RMB 1,889,749,000 a year ago. Profit before tax was RMB 821,190,000 against RMB 62,598,000 a year ago. Profit for the period was RMB 553,701,000 against RMB 34,493,000 a year ago. Profit for the period attributable to owners of the parent was RMB 430,325,000 against RMB 24,124,000 a year ago. Earnings per share attributable ordinary equity holders of the parent on basic and diluted basis were 18 cents against 1 cent a year ago. Net cash generated from operating activities was RMB 828,568,000 against cash used in operating activities of RMB 333,293,000 a year ago. Purchase of items of property and equipment was RMB 110,542,000 against RMB 1,527,000 a year ago.