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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement , make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement . Rsun 34BB Redsun Properties Group Limited 弘 陽 地產 集團 有限公司 ( Incorporated in the Cayman Islands with limited liability ) ( Stock Code : 1996 ) UNAUDITED INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2021 HIGHLIGHTS OF THE 2021 INTERIM RESULTS Note 1 : Contracted sales reached RMB49.15 billion , representing a year - on - year increase of 55.7 % . Contracted average selling price increased from RMB14,642 per sq.m. in the corresponding period of 2020 to RMB16,920 per sq.m. in the first half of 2021 , representing a year - on - year increase of 15.6 % . Revenue increased by 34.7 % to RMB12,964.5 million as compared to the corresponding period of 2020. Revenue from commercial operations and hotel operations increased by 39.4 % to RMB314.4 million ( 1H of 2020 : RMB225.6 million ) . Gross profit and gross profit margin were RMB2,730.2 million and 21.1 % , respectively . Net profit increased by 10.6 % to RMB990.0 million , as compared to the corresponding period of 2020. Net profit margin reached 7.6 % . Core net profit was RMB904.9 million ( 1H of 2020 : RMB874.2 million ) . As at 30 June 2021 , cash and bank balances were approximately RMB17.58 billion . As at 30 June 2021 , net gearing ratio was 53.9 % . As at 30 June 2021 , cash to short - term debt ratio was 1.69 times . As at 30 June 2021 , gearing ratio ( excluding contract liabilities ) was 69.4 % . Core net profit excluded non - recurring profits or loss items and their related tax effects , comprising fair value gain on investment properties , fair value gain on financial assets , foreign exchange differences , net and impairment losses , etc. -1-