China Resources Land announces strong February sales growth

China Resources Land (HKEX: 1109) announced unaudited operating figures for the month ended February 28, 2025, showcasing robust growth. Gross contracted sales reached approximately RMB13.5 billion, with a contracted gross floor area (GFA) of approximately 0.585 million square meters, representing increases of 46.9% and 28.1% year-over-year, respectively. For the first two months of 2025, gross contracted sales totaled approximately RMB25.1 billion with contracted GFA of approximately 1.073 million square meters, up 21.8% and 8.7% year-over-year, respectively. Recurring revenue for February 2025 was approximately RMB4.24 billion, a 12.8% year-over-year increase, with rental income from investment properties contributing RMB2.73 billion, also up 12.8%. The cumulative recurring revenue for the first two months of the year reached approximately RMB8.39 billion, a 11.6% increase, with investment property rental income at RMB5.46 billion, up 12.7%. The company advises caution regarding reliance on these preliminary figures.