November 22, 2017 11:36 PM ET

Real Estate Management and Development

Company Overview of Kardan Land China Limited

Company Overview

Kardan Land China Limited develops and operates commercial, office, retail, and residential properties. It has projects in Changzhou, Chengdu, Beijing, Shenyang, Xi'an, and Dalian. Kardan Land China Limited was formerly known as GTC Real Estate China Limited. The company was founded in 2005 and is based in Beijing, China with project companies and sales offices in Shenyang, Xi’an, Xianyang, Chengdu, Dalian, and Changzhou. Kardan Land China Limited operates as a subsidiary of Kardan N.V.

1005 Hyundai Motor Tower

No. 38 Xiaoyun Road

Chaoyang District

Beijing,  100027

China

Founded in 2005

Phone:

86 10 8458 0820

Fax:

86 10 8458 3622

Key Executives for Kardan Land China Limited

Chief Executive Officer
Age: 45
Chief Financial Officer
Age: 51
Managing Director of Dalian Development Company
General Manager of Dalian Development Company
General Legal Counsel
Compensation as of Fiscal Year 2017.

Kardan Land China Limited Key Developments

Kardan Land China Announces Earnings Results for the First Quarter Ended March 31, 2017

Kardan Land China announced earnings results for the first quarter ended March 31, 2017. For the quarter, the company’s total revenue was EUR 1.6 million as compared to EUR 1.9 million for the same period last year. Profit from operations before finance expenses was EUR 2.7 million as compared to EUR 0.7 million for the same period last year. Loss for the period attributable to company equity holder was EUR 1.9 million as compared to EUR 2.0 million for the same period last year.

Kardan Land China Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Kardan Land China announced earnings results for the second quarter and six months ended June 30, 2016. For the quarter the company announced rental revenue of EUR 0.9 million. Total Revenue was EUR 2.1 million compared to EUR 1.2 million a year ago. Loss from continuing operations was EUR 6.3 million compared to profit from continuing operations of EUR 8.1 million a year ago. Net loss for the period was EUR 6.3 million compared to net profit for the period of EUR 8.1 million a year ago. Loss attributable to Kardan equity holders was EUR 6.3 million compared to profit attributable to Kardan equity holders of EUR 8.1 million a year ago. For the six months the company announced rental revenue of EUR 1.8 million. Total Revenue was EUR 4 million compared to EUR 2.5 million a year ago. Loss from continuing operations was EUR 8.3 million compared to profit from continuing operations of EUR 17 million a year ago. Net loss for the period was EUR 8.3 million compared to net profit for the period of EUR 17 million a year ago. Loss attributable to Kardan equity holders was EUR 8.3 million compared to profit attributable to Kardan equity holders of EUR 17 million a year ago.

Kardan Land China Announces Earnings Results for the Fourth Quarter and Full Year 2015

Kardan Land China announced earnings results for the fourth quarter and full year 2015. For the year, it contributed EUR 8.9 million profit to Kardan's consolidated 2015 net result compared to EUR 24.6 million profit in 2014 which included EUR 16.8 million on the sale of Galleria Chengdu. The result in 2015 was due to significantly lower revenues, less equity earnings and higher financing expenses, but mitigated by a higher fair value adjustment on the Europark Dalian shopping mall and an on average much stronger RMB in 2015 (18% year-on-year versus the Euro). In the fourth quarter of 2015, a net loss of EUR 4.0 million was recognized which included impairments of inventory mainly on the apartments from joint venture projects and a write-off of deferred tax assets. The net profit of EUR 20.6 million in the comparative quarter of 2014 included the revenue of the delivery of the Europark A2 building comprising 201 apartments and the gain on the sale of Galleria Chengdu.

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