Investing.com – Chinese property company Sunac China Holdings Limited (HK: 1918) posted a 49% year-on-year leap in sales in October, the company said on Monday.
Despite the news, its shares dropped 1.94% to HK$22.75 on Tuesday morning.
Sunac’s sales grew from RMB251.74 billion in October last year to RMB 374.54 billion this year. More than 24 million square meters (sqm) of property were sold, with the average selling price roughly RMB15,300 per sqm.
The company’s subscription value also witnessed a 20% jump year-on-year, moving from RMB44.36 billion in October last year to RMB53.39 billion last month. The contracted sales value also rose 19% year-on-year, from RMB43.94 billion last October to RMB52.54 billion this October. The contracted area sold reached more than 3.5 million sqm, with the average selling price of about RMB14,540 per sqm.