China Fortune Land Development (CFLD) announced on Friday its revenue totaled 37.37 billion yuan, 62.4 percent coming from regions outside the greater Beijing area in the first half of 2020, compared to 38.5 percent of the same period in 2019.
Also, the areas of land acquired by CFLD from regions outside the greater Beijing area account for 77.3 percent of the total, its half-yearly report said.
The company's net profit attributable to the listed company's shareholders was 6.06 billion yuan with a net profit rate of 16.2 percent. Its debt to asset ratio was 83.1 percent, a year-on-year decrease of 5 percentage points.
According to the report, the company has a cash collection rate of 72.5 percent, compared with 61.6% during the same period last year.
While land payment increased by 2.7 billion yuan year on year, the overall cash outflow from operating activities decreased by 2 billion yuan.
