China-based developer Yanlord Land Group has reported higher revenue for 1HFY20. However, because it was selling a less profitable mix of projects, earnings for the same period dropped instead.

For the six months to June 30, Yanlord recorded revenue of RMB9.2 billion ($1.82 bil), up 18.2% y-o-y. However, its gross profit margin was just 35.9%, versus 46.5% in 1H2019 as it sold a larger proportion of projects that fetched a lower margin.

As a result, its earnings for the same period was RMB492.9 million, down 59% y-o-y from RMB1.19 billion.

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