SOHO China: Semi-annual Report 2021
On August 19, SOHO China announced its results for the first half of 2021.
The financial report shows that in the first half of the year, the revenue was $123 million USD, compared to $223 million USD in the same period last year; the net profit was $52.3 million USD, compared with $30.7 million USD in the same period last year; the diluted earnings per share was $0.01 USD, compared to the And $0.006 USD in the same period last year.
SOHO China’s operating income is mainly divided into two parts: rental and sales of property units. In the first half of 2020, SOHO China’s rental income was $120 million USD, and property sales income was $103 million USD. In the first half of this year, rental income increased by 3% To $123 million USD, and property sales income is $0 USD.
Regarding the increase in rental income, SOHO China stated: “With the effective control of COVID-19 in China and the gradual recovery of the economy, the average occupancy rate of the stable investment properties of the SOHO Group has returned to 90%. The occupancy rate of the newly completed Lize SOHO is 74%.” SOHO China’s semi-annual report stated that the office rental market in Beijing and Shanghai has picked up.
