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Poly HK Investment’s sales hit RMB 2.9 bln in Jan-Apr

May. 14, 2012 (China Knowledge) - Poly (Hong Kong) Investments Ltd<0119>, a subsidiary of state-owned China Poly Group Corp, has posted RMB 2.9 billion-contractual sales for the first four months of this year, with sales area totaling around 380,000 square meters.

For the month of April, Poly (Hong Kong) Investments sold approximately 113,000 sq m of properties for RMB 950 million in total contractual sales, nearly unchanged compared with sales in March, said analysts.

Analysts added that the real estate developer only met 18.13% of its annual target of RMB 16 billion in the first four months of this year.

Last year, the company's contractual sales increased by 39% year on year to RMB 15.8 billion, and its contractual sales area reached 2.15 million sq m, up 47% from a year earlier, sources reported.

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