Huayuan Property's Q3 profit nearly doubles

Published: 27 Oct 2009 20:38:51 PST

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Oct. 28, 2009 (China Knowledge) - Huayuan Property Co Ltd<600743>, which mainly does business in Beijing, yesterday announced that it reaped RMB 61.35 million in net profit in the third quarter of this year, 98.9% more than in the third quarter of last year, sources reported.

Earnings per share soared 75% year on year, hitting RMB 0.08.

In the period from January to September, the Shanghai-listed firm's net profit reached RMB 216.86 million, and its earnings per share were RMB 0.28.

As of Sep. 30, 2009, the property developer's total assets had grown 31.99% to RMB 6.45 billion from RMB 4.89 billion at the end of last year. Net asset value per share was RMB 2.06.

Reportedly, Huayuan Property has suspended trading until Oct. 30, when it will hold a board meeting to discuss a private placement.