CFLD sees operating income go up in H1

According to the semi-annual report released by China Fortune Land Development Co Ltd on Aug 28, in the first half of 2018 the company's operating income was 34.97 billion yuan ($5.14 billion), a year-on-year increase of 57.13 percent.

During this period, the company achieved a sales volume of 80.5 billion yuan, a year-on-year increase of 15.63 percent. Net profit gained by shareholders of listed companies settled in CFLD's "new industrial cities" was 6.93 billion yuan, up 29.05 percent year-on-year. By the end of June 2018, CFLD had received deposits totaling 143.32 billion yuan.

Some of the world's top 500 companies, such as Faurecia (Shenyang) Auto Parts Systems Co Ltd, as well as large-scale leading enterprises such as Mianyang Brillance Ruian Auto Components Co Ltd, Shenyang Changjiangyuan Technology Development Co Ltd, Brand Field Limited, Shanghai Shangfu Plastic Products Co Ltd, and Hangzhou Hengli Manufacturing Technology Co Ltd have settled in CFLD's industrial cities.

In the first half of 2018, newly-settled enterprises numbered 445 and brought new investment of 96.56 billion yuan, up 101 percent and 32 percent respectively compared with the same period last year. In the first half of the year, business revenue from areas outside Beijing accounted for 38.63 percent of total revenue, up 25 percent from last year. There were 288 newly added enterprises from areas outside the Beijing-Tianjin-Hebei region, accounting for 64.72 percent of new companies; their investment reached 74.5 billion yuan, accounting for 77.15 percent of the total new amount.

In the same period, the company signed a comprehensive strategic cooperation agreement with Hubei Bank Co Ltd and China CITIC Bank Co Ltd. Data showed the credits obtained by the company's merger in the first half of 2018 totaled 356.5 billion yuan, securing a credit line of which about 63.27 billion yuan is being used.