SHENZHEN, April 29 (Xinhua) -- China Vanke Co. Ltd., a property developer, recorded a net profit growth of 25.2 percent in the first quarter of 2019, the company said Monday in a press release.
The company's net profit attributable to its equity shareholders totalled 1.12 billion yuan (about 166 million U.S. dollars), and its revenue rose 59.4 percent year on year to 48.37 billion yuan between January and March.
In the first quarter, the company's property development business achieved a contracted sales area of 9.25 million square meters, with contracted sales amount of 149.44 billion yuan.
It acquired 19 new development projects in the first quarter, with a planned gross floor area of around 6 million square meters.
While consolidating its niches in residential development, Vanke has also developed businesses such as property services, rental housing, commercial development and operation, logistics and warehousing services and ski resorts.
