CR Land profit rises 11pc to 31.3b yuan

China Resources Land (1109), China's fourth-largest developer, reported an 11.7 percent jump in profit to 31.37 billion yuan (HK$34 billion) last year compared with 2022 and announced a final dividend of 1.243 yuan apiece.

Excluding revaluation gain from investment properties, core profit grew 2.9 percent to 27.77 billion yuan. Total revenue reached 251.14 billion yuan, marking an annual increase of 21 percent. Thus, the total dividend for 2023 rose 2.9 percent year on year to 1.441 yuan per share.

China Resources Mixc (1209), the property management arm of state-owned China Resources Land, also showed a better performance last year. Its profit rose by 32.8 percent to 2.93 billion yuan year on year, with its revenue yearly increased by 22.9 percent to 14.77 billion yuan.

And Guangdong-based builder Yuexiu Property (0123) said its revenue rose by 10.8 percent to 80.22 billion yuan in 2023 but its profit fell by 19.4 percent to 3.19 billion yuan.