Chinese developer Poly Real Estate's net profit soared 48%

China's Poly Developments and Holdings Group Co., also known as Poly Real Estate, reported a 47.9% rise in net profit in 2019, Xinhua News Agency reported on April 19. According to the annual report of the key developer of the country, net profit of shareholders of the company reached 27.96 billion yuan (about $3.95 billion) over the past year. The company's total revenue reached 235.98 billion yuan, a year 21.29% year-on-year increase. Poly Real Estate also reported that the company's total sales for the past year reached 461.8 billion yuan, an increase of 14.1% from the previous year. Shares of the company gave birth by 0.38% to 15.82 yuan per unit for April 18.

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