Yanlord Land Group has reported 2HFY2020 earnings of RMB2.1 billion, down 3% y-o-y. Revenue in the same period was up 35% y-o-y to RMB14.8 billion.

For the whole of FY2020, the China-based developer recorded earnings of RMB2.6 billion, down 23%. Revenue was up 28% to RMB23.9 billion.

The company explains that the lower bottomline was partly because it booked lower fair value gains of RMB811.5 million for 2HFY2020, versus RMB1.09 billion booked for 2HFY2019.

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