Chinese real estate developer Greenland Holdings reported earnings for 1H2021 on Tuesday with operating income up 35% to CNY 282.7bn ($43.64bn) and profits up 3% at CNY 15.8bn ($2.44bn), as per Chinese news website Sina. The developer reported a sharp improvement in operating cashflows, up 592% YoY to CNY 28.6bn ($4.42bn). Contracted sales were also strong for 1H, up 23% to CNY 164.1bn ($25.33bn). Greenland also made improvements in trimming its debt with interest bearing liabilities dropping CNY 34.9bn ($5.39bn) since the start of the year to CNY 286.9bn ($44.29bn). During the six month period, short term debt fell by 15% to CNY 27.1bn ($4.18bn) and non-current liabilities due within one year were down 48% to CNY 38.7bn ($5.97bn).
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