SINGAPORE (Nov 13): Ying Li International Real Estate saw 3Q earnings surge to RMB17.2 million ($3.5 million) from RMB7,000 a year ago.
Revenue rose 25.3% to RMB314.6 million. Revenue from the sale of properties increased by 31% to RMB264.1 million mainly driven by the sales of existing units from completed projects, investment properties, as well as from the continued handover of the residential units at San Ya Wan Phase 2 project and commercial units at Ying Li International Electrical and Hardware Centre in Phase 1A and 2A.
Rental income increased by 2.1% to RMB50.4 million compared to last year. The overall increase is a net result of increase in rental income from its retail malls, offset by the loss of rental income from the investment properties sold.
