OREANDA-NEWS. September 09, 2013. Shanghai Industrial Holdings Limited (“SIHL”, stock code 0363) announced its interim results for the six months ended 30th June 2013. Unaudited profit attributable to shareholders totalled approximately HKD 1,675 million, a year-on-year decrease of 34.1%, mainly due to a considerable disposal gain from selling lot G of the Qingpu District in Shanghai recorded during the first half of the previous year -- as real estate is one of SIHL's core businesses. Excluding such non-comparable factor, profits rose 18.7%.

Total revenue amounted to approximately HKD 8,789 million, a year-on-year increase of 40.9%, arising mainly from increase in property units completed during the period. SIHL’s board of directors has declared to pay an interim dividend of HK42 cents per share.

The newly appointed SIHL chairman Wang Wei, who took office in June, noted the continued impact of the global financial crisis, coupled with a slowdown in China's economic growth and the continued tightening of the regulatory policies within the country. Despite these, the Group has continued to capitalize on its competitive advantage in a balanced portfolio and asset structure, and managed to maintain stable development for its three core businesses.

Infrastructure facilities business continued to contribute stable profits and cashflow to the Group.

Earnings in the first half year totalled approximately HKD 532 million, an increase of 12.2%. Water services had quickly expanded the scale of investment, with current aggregate handling capacity reaching nearly 9 million tonnes/day, ranking it among the top three players nationwide.

Looking ahead, unpredictable factors in the domestic and overseas markets as well as uncertainty in policies within the country will continue to loom, posting considerable challenges to the Group. SIHL will continue to adopt a more refined development strategy for its real estate business. By means of establishing closer links among its various entities, enhancing synergy and speeding up project development, the Group would further improve its profit margin and cash income. As well, the real estate subsidiaries are also seeking breakthroughs to unlock the value of existing projects.