By P.R. Venkat
China Resources Land Ltd.'s net profit fell 9% in the first half, as contributions from its shopping mall, hotel and office units fell due to Covid-19 restrictions.
Net profit was 11.54 billion yuan (US$1.67 billion), while revenue was down 2.1% at CNY44.87 billion, the company said Wednesday.
Despite a challenging environment, "the group has forged ahead steadily amid various challenges and has improved operating efficiency and minimized the impact of the Covid-19 through cost reduction, quality improvement and efficiency enhancement measures," the company said.
It said that the market started to experience an uptick in the second quarter.
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