Sales climbed by 12% to 12.6 billion yuan in the first half, even as it disposed of some projects.
FORBES: Lujiazui Breakfast: News And Views About China Stocks -- Aug. 27
The estimated 1.9 billion yuan to 2 billion yuan of net losses compares with net profits of 299 million yuan in the same period last year, and 245 million yuan in the first half.
The icing on the cake: Half the deal with be conducted in Chinese yuan.
Greentown China Holdings of Hangzhou, which earlier this year took on Hong Kong property giant Wharf as a new investor, said yesterday first-half net profit doubled to 1.8 billion yuan and its debt load had come down.
FORBES: Lujiazui Breakfast: News And Views About China Stocks -- Aug. 27
Because the value of imported inputs accounts for about half of the value of Chinese exports, a stronger Yuan reduces the prices of imported inputs used to manufacture and assemble products in China for export to the United States and elsewhere.
Within a few minutes' walk of Meyer's home is Liulichang, Beijing's 750-meter (half-mile) antiques street which has flourished since the Yuan dynasty 800 years ago.
The 17, 000 yuan in out-of-pocket costs equaled almost half of his annual income.
The company officially projected net income for the first half of 2012 would be in a range of 72-150 million yuan.
Yuan Zhongmin, who runs the centre, says that with half his former workforce he can shift 60, 000 cartons every ten hours, compared with 25, 000 previously.
That was when the city authorities, in a bid to attract drivers of private cars off the road, slashed the ticket prices on the subway -- by more than half in some cases -- and introduced a flat fare of 2 Yuan (30 U.S. cents) with unlimited transfers.
On Thursday, Industrial and Commercial Bank of China announced its first half profits had jumped 29% from a year earlier, reaching 109.6 billion yuan.
Aiming to cut the levels of yuan in circulation, the People's Bank of China is increasing the banking reserve ratio by half a percentage point to 13.5%.
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