Company Profile For China Chengtong Development Group Ltd

China Chengtong Development Group Ltd (0217.HK) (Hong Kong Stock)

sector: Financials · industry: Real Estate Operations ·

As of 9:15am IST

0.73HKD

Price Change

-0.02

Percent Change

-2.67%

Analyst Recommendations

Overview

China Chengtong Development Group Limited is an investment holding company. The Company’s principal activities are property investment and property development. A property development project (Qing He Jiayuan) of Huzhou Wangang (a subsidiary which was held as to 67.08% equity interest by the Company), with a site area of approximately 214,000 square meters and gross floor area of 320,000 square meters, was completed and delivered to the Huzhou municipal government in 2008. During the year ended December 31, 2008, it property development project known as City of Mergence (Beijing City of Mergence) located at Xicheng District of Beijing sold approximately 1,131 square meters of commercial and warehousing area. In July 2008, the Company purchased approximately 319,000 square meters of commercial and residential land in downtown Zhucheng in Shandong Province.

Quick Financial Synopsis

BRIEF: For the six months ended 30 June 2009, China Chengtong Development Group Limited's revenues decreased 56% to HK$4.5M. Net loss decreased 63% to HK$4.1M. Revenues reflect a decrease in turnover from Property investment and Property development segments. Lower loss reflects a decrease in selling expenses, lower administrative expenses, the presence of gain on disposal of subsidiary & associate and the presence of share of profits vs. a loss.