Investing.com - Chinese property company Sunac China Holdings Ltd (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 CNY251.74 billion in October last year to CNY374.54 billion this year. More than 24 million square meters (sqm) of property were sold, with the average selling price roughly CNY15,300 per sqm.
The company’s subscription value also witnessed a 20% jump year-on-year, moving from CNY44.36 billion in October last year to CNY53.39 billion last month. The contracted sales value also rose 19% year-on-year, from CNY43.94 billion last October to CNY52.54 billion this October. The contracted area sold reached more than 3.5 million sqm, with the average selling price of about CNY14,540 per sqm.