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Guangzhou R&F Property's sales plunge 57% in Jan

Feb. 6, 2012 (China Knowledge) - Guangzhou R&F Property Co Ltd<2777>, a real estate developer headquartered in Guangzhou, Guangdong Province, has posted RMB 1.23 billion-contracted sales revenue for January 2012, reflecting a year-on-year drop of 57%.

The revenue for January also plummeted 59% from a month earlier.

Last month, the Hong Kong-listed firm's contracted sales area sharply declined 47% from a year earlier or 63% from a month earlier to 87,800 square meters.

Contracted sales from the company's headquarters in Guangzhou contributed RMB 616 million in January this year, followed by Beijing RMB 153 million and Tianjin RMB 170 million.

Sales in Xi'an amounted to RMB 60 million, Taiyuan RMB 35 million, Shenyang RMB 2 million, Huizhou RMB 1 million, Hainan Province RMB 53 million, Chongqing RMB 90 million, Chengdu RMB 7 million, Nanjing RMB 12 million and Shanghai RMB 26 million.

Guangzhou R&F Property has submitted an application to list on the Shanghai Stock Exchange, according to China Securities Regulatory Commission.

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