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COFCO Property swings to loss in Q3

Oct. 24, 2012 (China Knowledge) - COFCO Property (Group) Co Ltd<000031>, a subsidiary of state-owned COFCO Group, has announced it suffered a net loss of RMB 24.47 million in the third quarter of this year, compared with a net profit of RMB 14.6 million it realized in the same period of 2011.

According to a statement filed with Shenzhen Stock Exchange, basic loss per share for the period was RMB 0.01.

From July to September 2012, the real estate developer realized RMB 1.47 billion in operation revenue, up 141.98% YoY.

In the first nine months of this year, COFCO Property saw its operation revenue amounted to RMB 2.7 billion, up 21.64% YoY, while its net profit for the nine-month period plunged 70.65% YoY to RMB 36.36 million.

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