Chen Xing Development (02286) said its profit attributable to equity holders for the year ended 31 December 2016 dropped 47.7% year-on-year to Rmb152 million.
Basic and diluted earnings per share were Rmb0.3.
The revenue was Rmb1,082 million, an increase of 11.98% from a year earlier. The increase was mainly due to the completion of phase V of Xin Xing International Cultural Town and Northern District of Phase I of Yosemite Valley Town - Taiyuan which generated a substantial increase in revenue.
The gross profit grew 20% year-on-year to Rmb337 million. The gross profit margin rose to 31% from 29% in 2015.
The proposed final dividend is HK30 cents (2015: HK50 cents) per share, payable on or before 19 June 2017.
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