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March 26, 2020

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SOHO China continues solid growth

SOHO China, a major office developer in Beijing and Shanghai, recorded single-digit net income growth and moderate revenue gains in 2019.

The company’s net profit attributable to equity shareholders reached 1.33 billion yuan (US$188 million) during the 12-month period ending December 31 (after excluding non-recurring profit from the disposal of Sky SOHO), an 8 percent increase over 2018, the Beijing-based developer said in a filing with the Hong Kong stock exchange yesterday.

Revenue totaled 1.85 billion yuan (US$260 million), an increase of 11 percent compared with 2018 (after excluding rental income from the disposed Sky SOHO).

Shares of SOHO China, which proposed no dividend in 2019, closed 1.46 percent higher at HK$3.48 (45 US cents) yesterday after reaching an intraday high of HK$3.64.


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