Yanlord, Ying Li Q1 profits surge

CHINA property developers Yanlord Land Group and Ying Li International Real Estate both posted a surge in first-quarter earnings.

Ying Li's net profit attributable to shareholders was 33.7 million yuan (S$6.8 million), more than quadruple the 7.7 million yuan a year earlier.

Its revenue jumped 170.2 per cent to 279.7 million yuan due mainly to revenue recognition upon the handover of residential units in Block 3, 4, 5 and retail units of the Ying Li International Plaza project.