Ying Li International posts 74% rise in 3Q sales to $6.4m
Ying Li International Real Estate, the China-based property developer, says group revenue for the 3 months ending Sept 30 2009 (3QFY2009) was RMB31.4 million ($6.4 million) or 73.9% higher than that of the corresponding period last year due to sale of units in Phase 1 of Sanyawan.
Profit after tax was RMB 5.4 million in 3Q09 compared to a loss of RMB 107.4 million in 3Q08.
The group also recorded a gross profit of RMB20 million compared to from RMB11.7 million, or a rise of 71.1%, from the previous corresponding period.
Selling expenses for the 3 months was RMB1.2 million as compared to RMB0.5 million due to the sharp increase in sale of properties relating to Sanyawan.
Administrative expenses fell to RMB7.3 million from RMB9.7 million due to most of the professional fees relating to the reverse take‐over being booked in 3Q08.
Profit after tax was RMB 5.4 million in 3Q09 compared to a loss of RMB 107.4 million in 3Q08.
The group also recorded a gross profit of RMB20 million compared to from RMB11.7 million, or a rise of 71.1%, from the previous corresponding period.
Selling expenses for the 3 months was RMB1.2 million as compared to RMB0.5 million due to the sharp increase in sale of properties relating to Sanyawan.
Administrative expenses fell to RMB7.3 million from RMB9.7 million due to most of the professional fees relating to the reverse take‐over being booked in 3Q08.
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