Beijing Land sells out 210,000-230,000 square meters buildings till July

Salomon Smith Barney revealed in the report that China Resources Beijing Land (1109) had sold out about 210,000 to 230,000 square meters buildings till July, circa 49-53% of the annual 430,800 square meters anticipated by the fund house. The managing team of China Resources Beijing Land said the company was satisfied with its sales and the prices were also stable. Meanwhile, the fund house was confident that China Resources Beijing Land could reach the goal of the forecasted annual building sales this year. Accordingly, the fund house maintained the rating of the company at ˇ§lead the marketˇ¨ and it also forecast the annual net profit of the company to be HK$159 mln with per share profit of HK$0.106, increasing 63.3% vs 2000.

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