BIZCHINA / Biz Who |
Shunde developer to list in Hong KongBy Song Hongmei (chinadaily.com.cn)Updated: 2007-04-05 14:29 In addition, Country Garden has one five-star hotel, one four-star hotel and five more five-star hotels under construction. Decent annual earning Country Garden has experienced robust growth on low cost of land in recent years, according to its prospectus. The company announced its prime operating income in 2004, 2005 and 2006 reached 3.24 billion yuan, 5.19 billion yuan and 7.94 billion yuan, respectively. And it saw its net profit stand at 237 million yuan, 590 million yuan and 1.67 billion yuan, respectively, in 2004-2006. The company predicted that its profit will be no less than 4.01 billion yuan in 2007 in its prospectus based on its sufficient land reserves and developing projects at hand. Newly minted billionaire
Yang Huiyan will control 59.5 percent of Country Garden and see her fortune balloon to HK$51.2 billion after her company's Hong Kong listing, if the offer price is set at the top of the indicative range at HK$5.38 per share. Yang is currently personal assistant to her father. She joined Country Garden in 2003 when she graduated from the Ohio State University.
Zhang has a fortune of HK$47.9 billion as she holds 72 percent of the paper company and its share price closed at HK$16.1 yesterday.
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