Wednesday 2011-08-17  13:56 Publisher: CapitalVue
August 17 – Guangdong Highsun Group (000861) acquired a 133,949-square meter plot of land for commercial and residential purposes in Zhaoqing city, Guangdong province, reports yicai.com, citing a company filing. The floor asking price for the plot was 117 million yuan.

Highsun Group predicted that net profits for first three quarters could hit 245 million yuan, up 51.52 percent year-on-year. For the first half of 2011, the Guangzhouo-based firm yielded net profits of 159 million on revenues of 828 million, up 53 percent and 40.34 percent year-on-year respectively.

The company generated 512 million yuan in revenues from its commercial property business.