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Pan Shiyi， Chairman of Hong Kong-listed Soho China Ltd.， said that the company’s business mode has successfully transformed from selling properties to operating self-owned projects.
In the first half of this year， Soho China posted profits of 2.09 billion yuan （$341 million）， up 242 percent year on year， and its revenue reached 2.48 billion yuan （$405 million）， growing 103 percent from a year ago， the company said in its interim report on August 20.
Robust demand for high-quality office space in Beijing and Shanghai versus insufficient supply has catapulted vacancy rates to historic lows， the report said.
At the end of June， Soho China held 15.2 billion yuan （$2.48 billion） in cash， and its net debt ratio was 14.3 percent.
“Soho China’s financial condition is capable of weathering any market turbulence，” Pan said.
iPad Sales Fall
China’s best-selling tablet computer iPad saw its shipments to the country between April and June drastically halved from the previous quarter as Apple Inc’s competitors， both international and Chinese， build up market share.
Shipments of the tablet in China were down from about 3.04 million in the first quarter of the year to 1.48 million in the second quarter， with its market share in the country shrinking from 49 percent to 28 percent during the same period， according to statistics from International Data Corp.， a global market intelligence firm.
Apple’s product is still No. 1 in terms of market share in China’s tablet computer sector， but rapidly increasing sales numbers from rivals have led to a more competitive market.
In the first half of this year， Soho China posted profits of 2.09 billion yuan （$341 million）， up 242 percent year on year， and its revenue reached 2.48 billion yuan （$405 million）， growing 103 percent from a year ago， the company said in its interim report on August 20.
Robust demand for high-quality office space in Beijing and Shanghai versus insufficient supply has catapulted vacancy rates to historic lows， the report said.
At the end of June， Soho China held 15.2 billion yuan （$2.48 billion） in cash， and its net debt ratio was 14.3 percent.
“Soho China’s financial condition is capable of weathering any market turbulence，” Pan said.
iPad Sales Fall
China’s best-selling tablet computer iPad saw its shipments to the country between April and June drastically halved from the previous quarter as Apple Inc’s competitors， both international and Chinese， build up market share.
Shipments of the tablet in China were down from about 3.04 million in the first quarter of the year to 1.48 million in the second quarter， with its market share in the country shrinking from 49 percent to 28 percent during the same period， according to statistics from International Data Corp.， a global market intelligence firm.
Apple’s product is still No. 1 in terms of market share in China’s tablet computer sector， but rapidly increasing sales numbers from rivals have led to a more competitive market.