By Yifan Wang
Poly Developments & Holdings Group Co. said its 2020 net profit edged up 3.4% from a year earlier, thanks to higher sales.
The Chinese developer's net profit was 28.91 billion yuan ($4.46 billion), it said Monday.
Revenue rose 3.9% to CNY245.26 billion, mainly driven by sales recognition from completed property projects during the year.
Meanwhile, contracted sales grew 8.9% to CNY502.85 billion, Poly Developments said.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
01-18-21 0511ET