SHENZHEN, April 28 (Xinhua) -- China Vanke Co., Ltd. posted net profit of 1.25 billion yuan (about 177 million U.S. dollars) in the first quarter of 2020, up 11.5 percent year on year.
Revenue fell 1.2 percent year on year to 47.77 billion yuan in the January-March period, the leading Chinese property developer said in its first-quarter earnings report.
In the three months, the company achieved a contracted property sales area of 8.85 million square meters, with the contracted sales value hitting 137.88 billion yuan. The two figures were down 4.3 percent and 7.7 percent year on year respectively.
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