Increased property market transactions
Midland Group (1200) announced that last year it recorded a revenue of approximately 5.294 billion yuan, a new high after listing, which rose by approximately 4.29% compared to 2016; net profit increased by 17.33 times year-on-year to 193 million yuan, a record high for five years. Earnings were 26.94 cents per share, and final dividends were 5 cents. The increase in profits was mainly due to the increase in transaction activity in the residential market last year, effective redistribution, utilization of resources and implementation of cost control measures to cope with the slowdown in the real estate market in major cities in Mainland China.
U.S. Chairman Huang Jianye pointed out that last year, the number of registered private buildings, second-hand residential houses, industrial buildings, office buildings, shops, and pure parking spaces all increased year-on-year, and this was the third time in Hong Kong’s property market history. Huang Jianye also pointed out that unless the large-scale trade war between China and the United States has a serious impact on China’s economy and hits Hong Kong’s economy, it will affect the local stock and property markets, and the annual property prices will continue to rise 10%.
Zhongyuan’s commission income in Hong Kong is a new high