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News Breaks
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March 9, 2011
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| 08:33 EDT |  | CHLN |
| theflyonthewall.com: | China Housing acquires development project | | China Housing & Land Development has signed a contract to acquire a new development project in Hu County, which is a satellite city located approximately 35 kilometers from Xi'an. The company purchased this development project from a Chinese state-owned enterprise, or SOE, that had purchased land and commenced development of housing units for its employees. China Housing's development project acquisition from this SOE is comprised of 280,000 sq. meters of GFA. The development of this acquisition will be divided into two phases. Phase One is comprised of 100,000 sq. meters of GFA, of which 85,000 sq. meters will be sold to the SOE to distribute to its employees. The remaining 15,000 sq. meters of the Phase One project have received all necessary government approvals and are ready to be sold to non-SOE employees. Phase Two of the project will entail construction of 180,000 sq. meters of GFA. The timing of Phase Two construction is scheduled for the second half of 2011. The estimated revenue, comprised of 15,000 sq. meters of GFA sales from Phase One plus 180,000 sq. meters of GFA sales from Phase Two, is approximately RMB667M. or $100M, with full project completion estimated for 2Q of 2013. :theflyonthewall.com |
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May 15, 2012
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| 06:08 EDT |  | CHLN |
| theflyonthewall.com: | China Housing reports Q1 EPS 6c, consensus 1c | | Reports Q1 revenue $23.5M increased from $22.6M in Q1 of 2011 -- but is down 50.9% from $47.9M in Q4 of 2011. One estimate $16.87M :theflyonthewall.com |
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